New Delhi: According to news agency ANI, Adani Group has made an open offer to buy a 29 percent stake in NDTV.
AMG Media Network Ltd., a subsidiary of the Adani Group, will indirectly acquire a 29.18% stake in NDTV and initiate an open offer for another 26% stake in the media house, the Adani Group said in a statement.
Adani Group said the acquisition of a 29.18 percent stake would be indirect, as it would be done through Vishwapradhan Commercial Private Limited (VCPL), a subsidiary owned by AMG Media Network Limited (AMNL). This company is owned by Adani Enterprises Limited (AEL).
According to news agency PTI, three firms, Vishwapradhan Commercial Private Limited, in association with AMG Media Networks, and Adani Enterprises Limited have made an offer to acquire 1,67,62,530 paid-up equity shares of NDTV from a public shareholder at a price of Rs 294. , whose face value is Rs.
Three companies Vishwapradhan Commercial Private Limited. with AMG Media Networks and Adani Enterprises Ltd. Ltd. has offered to buy 1,67,62,530 fully paid-up equity shares of NDTV with a face value of Rs 4 from public shareholders at a price of Rs 294 per share. JM Financial Ltd. announced this.
The company is managing the offering on behalf of the acquiring entities. “The offer price is higher than the prescribed price as per regulation 8(2) of SEBI (SAST) Rules,” the offer said. The stock of NDTV closed at Rs 366.20, up 2.61 percent on the BSE on Tuesday. The company’s income was Rs 230.91 crore in the financial year 2021-22.
