Thursday, September 29th, 2022 02:57:20

Adani Group to acquire 29% shares in NDTV

Updated: August 23, 2022 6:42 pm

AMG Media Networks Limited, a subsidiary of the Adani group, will indirectly acquire a 29.18% stake in New Delhi Television Ltd (NDTV) and launch an open offer for another 26% stake in the media house, the Adani Group said in a statement. Adani entities made ₹493-crore open offer for 26% stake in NDTV at ₹294 per share. The media company’s shares closed 5% higher today at ₹376.55 apiece.

RRPR is a promoter group company of NDTV and holds 29.18% stake in NDTV. VCPL, along with AMNL and AEL (persons acting in concert), will launch an open offer to acquire up to 26% stake in NDTV at ₹294 per share.

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