THE OPEN OFFER for 26 per cent stake in New Delhi Television NDTV) by the Gautam Adani-led Adani Group had its share of surprises. Of the 16.76 million shares which formed the open offer, 5.33 million or 32 per cent of the total offer size, was tendered. Interestingly, while the offer price was ₹294 per share, the prevailing rate in the market was ₹393.90, on December 5, the last day of the open offer. Post the offer, the Adani Group’s stake in NDTV is pegged at around 37.5 per cent, making it the single largest shareholder in the company.
This story is from the December 25, 2022 edition of Business Today India.
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This story is from the December 25, 2022 edition of Business Today India.
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