Under the open offer of Adani Group, the shareholders of NDTV offered about 28 lakh shares on the third day on Thursday. The open offer of Adani Group started on Tuesday.
Image Credit source: TV9 Telugu
Gautam Adani Group: Asia’s biggest tycoon Gautam AdaniGautam Adani) Now soon going to become the owner of media company NDTV. That NDTV (NDTV) have come very close to. Under the open offer of Adani Group, the shareholders of NDTV offered about 28 lakh shares on Thursday for the third day. It means that the shareholders have accepted the open offer. Adani Group’s open offer to acquire additional 26 per cent stake in NDTV began on Tuesday.
According to BSE data, against the total offer made for 27,72,159 shares of NDTV, till 4 pm on Thursday, 16.54 per cent shares have been offered. Adani’s offer price is Rs 294 per share, while NDTV shares closed at Rs 368.40 on Thursday. Thus, the closing price of the shares is 25.3 per cent higher than the offer price.
JM Financial, the firm managing the offer on behalf of Adani Group firms, said in a notice that the offer will close on December 5. The Securities and Exchange Board of India (SEBI) had on November 7 approved the proposed open offer of Rs 492.81 crore. Gautam Adani-led Adani Group had announced the acquisition of Vishwapradhan Commercial Private Limited (VCPL) in August last.
VCPL gave loan to NDTV
Let us tell you that VCPL had given more than Rs 400 crore as loan to the founders of NDTV a decade ago. In lieu of this loan, a provision was kept for the lenders to take 29.18 percent stake in NDTV at any time. Following the takeover by the Adani Group, VCPL had announced on October 17 that it would make an open offer to buy an additional 26 per cent stake from minority shareholders of NDTV.
stake will be 55 percent
AMG Media Networks and Adani Enterprises Limited along with VCPL will buy this 26 percent stake. Under the open offer, 1.67 crore shares are being offered at a price of Rs 294 per share. In case of full subscription, the size of this open offer will be Rs 492.81 crore, due to which Adani Group’s stake in NDTV will be about 55 percent.
English News Headline : Will Gautam Adani become the full owner of NDTV.