New Delhi: The Adani Group is working aggressively to make a strong presence in the media space. The world's third richest man Gautam Adani's conglomerate is trying to acquire media company NDTV. The Adani Group has announced an open offer amid reports that an old SEBI order may hit the deal.
The Adani Group is scheduled to launch an open offer on October 17 to buy an additional 26 per cent stake in NDTV. JM Financial, the company managing this open offer, has informed in a statement that the open offer will be launched on October 17 and will close on November 01. Through this offer, the Adani Group is trying to buy 1.67 crore shares of NDTV. For this, a price of Rs 294 per share has been fixed. If the offer is fully subscribed at this rate, the total amount will be Rs 492.81 crore.
Let us tell you that earlier a company of Adani Group had announced to buy 29.18 per cent shares of media company New Delhi Television Limited (NDTV) indirectly. Adani Group's media company AMG is trying to complete the deal through Vishvapradhan Commercial Private Limited, a subsidiary of Media Networks. However, right now this deal is stuck due to an old decision of SEBI.
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