If fully subscribed at a price of Rs 294 per share, the open offer will amount to Rs 492.81 crore,
On August 23, Adani group announced to acquire a 29.18 per cent stake in NDTV through the acquisition of VCPL, which holds a 99.99 per cent stake in RRPR Holding.
DTV Share Price Today: Shares of New Delhi Television (NDTV) were locked at the 5 per cent upper circuit, hitting a 52-week high at Rs 384.50 on the BSE on Wednesday after Adani Group, which recently established a media arm, announced that it would pick up a 29.18 per cent stake in the company and make an open offer to acquire 26 per cent more.
In the past three months, the stock price of NDTV has zoomed nearly 140 per cent, as compared to 8 per cent rise in the S&P BSE Sensex. In one year, it soared 382 per cent against 6 per cent gain in the benchmark index.
Adani Firms Open Offer To Acquire 26% Stake in NDTV
Adani Enterprises, along with two other companies, has made an open offer to buy a 26 per cent stake in NDTV for Rs 294 per share, which is aggregating to a total consideration of up to Rs 492 crore, according to a statement on Tuesday. Upon the successful completion of the open offer, Adani media unit AMG Media Networks Ltd will indirectly acquire a 29.18 per cent stake in New Delhi Television Ltd (NDTV).
