Adani Group firms to acquire a 26% stake in NDTV
On August 23, Adani Group firms made an offer to acquire a 26% stake in New Delhi Television Ltd. (NDTV).
The move comes after an indirect acquisition of 29.18% of the media and news broadcaster. Vishvapradhan Commercial Pvt Ltd, AMG Media Networks, and Adani Enterprises Ltd have all offered $294 for the acquisition of equity shares.
On August 23, NDTV shares closed at a record high of 366.20 on the BSE, up 2.61% from the previous close.
The offer price is higher than that determined in accordance with SEBI (SAST) Regulation 8(2). T
he revenue of the media company for the fiscal year ending March 31, 2022 was €230.91 crore.