Adani group firms make an open offer to acquire additional 26% stake in NDTV

NEW DELHI: Adani’s group The companies on Tuesday made an offer to acquire a 26% stake in New Delhi Television Ltd (NDTV) after the indirect acquisition of a 29.18% stake in news media and broadcasters.
The three companies, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 shares of NDTV paid off with par value of Rs 4. from public shareholders.
A public announcement was made by JM Financial Ltd, which is managing the offer on behalf of the acquirers.
“The asking price is higher than the price determined under regulation 8(2) of the Sebi regulation (SAST),” the offer said.
On Tuesday, shares of NDTV were trading at Rs 366.20 on BSE, up 2.61% from the previous close.
Its revenue for the financial year ended March 31, 2022 was Rs 230.91.

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