Adani Group’s open offer for NDTV gets Sebi nod
时间:2024-06-26 16:32:59 阅读(143)
The Securities and Exchange Board of India (Sebi) on Monday approved the Adani Group’s open offer for 26% shares of New Delhi Television (NDTV). A statement on the market regulator’s website said it has allowed Adani to buy more equity from the media firm’s minority shareholders.
Owned by Asia’s richest man Gautam Adani, the conglomerate has revised the offer’s rollout date. Now, it will open on November 22 and close on December 5, NDTV said last week. The previous timeline for the open offer by Adani was October 17 to November 1, but it was delayed in the absence of Sebi’s approval.
Vishvapradhan Commercial (VCPL), along with AMG Media Networks and Adani Enterprises, has proposed to acquire an additional 26%, or 1.67 crore equity shares, at an offer price of `294 per share.
NDTV’s share price closed at `364.50 on Monday – the difference between the offer price and the current price is a good 24%.
Also Read: NDTV says share transfer needs I-T dept nod, Adani rejects claim
Market analysts said the huge difference in the price may not lead to many tendering their shares in the open offer since selling it in the secondary market will be much more lucrative. According to BSE data, public shareholders hold 38.55% stake in the company as of September 2022. In August, Adani entities had acquired VCPL which had lent over `403 crore to NDTV founders led by Prannoy Roy. VPCL had lent the amount in 2009-10 in exchange for warrants that allowed it to acquire a stake of 29.18% in NDTV at any time. Against this interest-free loan, RRPR Holding issued warrants to VCPL entitling it to convert them into a 99.9% stake in RRPR. The promoters have opposed the bid.
上一篇:Zomato stock tanks over 11% as pre-IPO lock-in period ends
下一篇:Zomato share price plunges 14% intraday, hits new all-time low; check what’s fuelling the sell-off
猜你喜欢
- 2023 car buying trends- Purchase intent for EVs has reduced
- Adani shares still under pressure; group firms lose $125-bn macp since January 24
- Windfall tax slashed on crude, fuels; check duty cuts on diesel, petrol, ATF exports
- Adani Group, Ambuja Cement, Yes Bank, IndusInd Bank, Dilip Buildcon, Zydus, JSW Steel stocks in focus
- Xiaomi 14 series, iQOO 12 and more- All smartphones confirmed to rock Qualcomm Snapdragon 8 Gen 3 so far
- Adani Power share price at new 52-week high after Q1 profit rises 17-fold; should you buy, sell, hold-
- 58% active funds underperform BSE 100- SPIVA
- EEPC, mjunction ink pact to boost exports
- Zomato, Info Edge, other internet firms may report robust revenue growth; valuation fair, check target price