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HomeMarketStocksAdani open offer: Nearly 28 lakh NDTV shares tendered by Day 3

Adani open offer: Nearly 28 lakh NDTV shares tendered by Day 3

Practically 28 lakh shares have been tendered by shareholders of below the Adani group‘s open supply on the finish of the third day on Thursday. Adani group’s open supply to amass an extra 26 per cent stake within the media agency (NDTV) began on Tuesday.

In response to the info from BSE, a complete of 27,72,159 NDTV shares amounting to 16.54 per cent of the supply measurement have been tendered by the shareholders by 1600hrs on Thursday.

Adani’s supply worth is Rs 294 per share, whereas NDTV shares settled at Rs 368.40 on Thursday, which is 25.3 per cent greater in comparison with the supply worth.

Within the final three months, NDTV shares reached a excessive of Rs 540.85 on September 5, 2022.

The supply closes on December 5, a discover by

, the agency managing the supply on behalf of Adani Group corporations, stated.

Markets regulator Sebi on November 7 granted its approval to the proposed Rs 492.81 crore-open supply.

The conglomerate, run by India’s richest man Gautam Adani, in August acquired a little-known firm that lent over Rs 400 crore to NDTV’s founders greater than a decade in the past in trade for warrants that allowed the corporate to amass a stake of 29.18 per cent within the newsgroup at any time.

Put up that, VCPL – the agency that the Adani group purchased out – introduced that it could launch an open supply on October 17 to purchase an extra 26 per cent stake from minority shareholders of NDTV. Nevertheless, the supply was delayed since Sebi had not given its approval to the open supply.

VCPL together with AMG Media Networks and

had proposed to amass an extra 26 per cent or 1.67 crore fairness shares at a proposal worth of Rs 294 per share.

If absolutely subscribed, the open supply will quantity to Rs 492.81 crore at a worth of Rs 294 per share.

On Thursday, shares of NDTV closed at Rs 368.40 on BSE, up 2.65 per cent.

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