Ndtv Stock Price today: NDTV shares hit 5% circuit high as SEBI approves Adani Group’s open offer | Rare Techy

The stock hit a 5% higher circuit at Rs 383.05 in Tuesday’s trade after Adani Group received regulatory approval from Sebi to acquire a further 26% stake in Limited. Vishvapradhan Commercial Private Limited (VCPL), AMG Media Networks Limited (AMNL) and are making an open offer at a price of Rs 294 per share to acquire 26% stake in NDTV.

A statement on the market watchdog’s website indicated that the Gautam Adani-led conglomerate’s open offer received the Sebi go-ahead on Monday. The company has changed the launch date of the open offer till November 22 and the same should close on December 5.

As per the Adani Group’s initial plan, it was meant to launch the offer last month, but the same was delayed pending Sebi’s approval. The port-to-power conglomerate initiated a hostile takeover bid for the media company after it acquired an indirect 29.18% stake in August.

“The decision to acquire NDTV has arrived at the continuation of the Adani Group’s goal to set up a credible next-generation media platform with an emphasis on the digital and broadcast segments, and that NDTV is a suitable broadcast and digital platform to deliver on this vision. “Adani Adani Group’s flagship company Enterprises said last month.

The Adani-led conglomerate will also take a larger share in the country’s media sector as it diversifies across sectors, including data centres, airports, cement etc.

NDTV’s latest shareholding pattern at the end of the September quarter shows that promoters Prannoy Roy and Radhika Roy own 15.94% and 16.32% of the company’s shares respectively. RRPR has 29.18% stake in NDTV.