Adani entities made a ₹493-crore open offer for a 26% stake in NDTV at ₹294 per share. The media company’s shares closed 5% higher today at ₹376.55 apiece.
The AMG Media Networks Limited, a subsidiary of the Adani group, will 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’s statement read.
Adani entities made a ₹493-crore open offer for a 26% stake in NDTV at ₹294 per share. The media company’s shares closed 5% higher today at ₹376.55 apiece.
The top conglomerate will launch an open offer to acquire up to a 26% stake in the news channel, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms,” said Sanjay Pugalia, CEO, AMG Media Networks Limited.
“AMNL seeks to empower Indian citizens, consumers, and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcast and digital platform,” He added.
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