NDTV to be of Adani! Group will bring open offer on Oct 17

Business
Sep 01 2022 08:23 AM

NDTV to be of Adani! Group will bring open offer on Oct 17

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.

India’s core sector scales down to 4.5 pc in July

India Economy Grows 13.5-pc in June in Q1

Asia Cup 2022: India & Pakistan fined 40 per cent match fee for slow over-rate

Disclaimer : The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of NTIPL, english.newstracklive.com or any employee thereof. NTIPL makes no representations as to accuracy, completeness, correctness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.
NTIPL reserves the right to delete, edit, or alter in any manner it sees fit comments that it, in its sole discretion, deems to be obscene, offensive, defamatory, threatening, in violation of trademark, copyright or other laws, or is otherwise unacceptable.