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

NEW DELHI: Adani group firms on Tuesday made an offer to acquire 26 per cent stake of New Delhi Television Ltd (NDTV) following indirect acquisition of 29.18 per cent shareholding in the media and news broadcaster.

Three firms, 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 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders.

A public announcement has been made by JM Financial Ltd, which is managing the offer on behalf of the acquirers.

“The Offer Price is higher than the price determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations,” the offer said.

On Tuesday, shares of NDTV settled at Rs 366.20 on BSE, up 2.61 per cent from the previous close.

Its revenue for the financial year ended March 31, 2022 was Rs 230.91 crore. (PTI)