The Live Ahmedabad
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured

The Live Ahmedabad

  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
Nation

Adani group’s open offer of Rs 493-cr for NDTV to start from Tuesday

by TLAteam November 21, 2022November 21, 2022
written by TLAteam November 21, 2022November 21, 2022
Adani group’s open offer of Rs 493-cr for NDTV to start from Tuesday

Adani group’s open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) from the market would start from Tuesday.

The offer, for which a price band of Rs 294 per share has been fixed, will open on November 22 and will close on December 5, said a notice by JM Financial, the firm managing the offer on behalf of Adani Group firms.

The combination, run by India’s richest man Gautam Adani, in August acquired a little-known company that lent over Rs 400 crore to NDTV’s founders more than a decade ago in exchange for warrants that allowed the company to acquire a stake of 29.18 per cent in the newsgroup at any time.

VCPL – the firm that the Adani group bought out – announced that it would launch an open offer on October 17 to buy an additional 26 percent stake from minority shareholders of NDTV. However, the offer was delayed.

VCPL along with AMG Media Networks and Adani Enterprises Ltd had proposed to acquire an additional 26 per cent or 1.67 crore equity shares at an offer price of Rs 294 per share.

If fully subscribed, the open offer will amount to Rs 492.81 crore at a price of Rs 294 per share.

“The decision to acquire NDTV was arrived at in furtherance of the Adani Group’s objective to set up a credible next-generation media platform with an emphasis on digital and broadcast segments, and that NDTV is a suitable broadcast and digital platform to deliver on this vision,” Adani Enterprises had said in a regulatory filing in October.

On Monday, shares of NDTV closed at Rs 382.20 on BSE, down 5 per cent, touching a lower circuit.

AhmedabadAhmedabad cityAhmedabad newsGujaratGujarat governmentGujarat newslatest news
0 comment
previous post
Top RIL executive succeeds Amit Shah as head of Gujarat Cricket Association
next post
71% Of City’s Eligible New Voters Did Not Register To Vote

You may also like

Adipurush advance bookings to open on June 11;...

June 9, 2023

Akash Ambani and Shloka Mehta REVEAL the name...

June 9, 2023

Owners can claim deductions on stamp duty and...

June 9, 2023

Miss World international beauty pageant competition set to...

June 9, 2023

NEET-UG results to be announced next week

June 8, 2023

Petrol-diesel rates likely to drop, the oil companies...

June 8, 2023

Airfares reduced by 61%, won’t let airlines to...

June 8, 2023

Maharashtra’s Toy Train derails, won’t run during monsoon

June 7, 2023

NEET UG OMR response sheet released, answer keys...

June 6, 2023

‘Shakuni Mama’ Gufi Paintal passed away at 79

June 5, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Recent Posts

  • Adipurush advance bookings to open on June 11; Set to release on 6200 plus screens in India

    June 9, 2023
  • Akash Ambani and Shloka Mehta REVEAL the name of their baby girl; Fans are impressed

    June 9, 2023
  • Two persons arrested for kidnapping a four-year-old girl in Sarkhej

    June 9, 2023
  • Free streaming of Asia Cup and World Cup on Disney+Hotstar

    June 9, 2023
  • Watch Actress turned influencer Tanvi Gadkari relaxing on the beachside

    June 9, 2023
November 2022
M T W T F S S
« Oct   Dec »
 123456
78910111213
14151617181920
21222324252627
282930  
Footer Logo
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms of use
  • Advertise with Us
  • Work With Us
  • Contact Us

© 2021 - The Live Ahmedabad. All Rights Reserved.