Securities and Exchange Board of India (SEBI) has approved Adani Group's open offer to buy an additional 26 per cent stake in media firm New Delhi Television (NDTV) and the offer will commence on November 22. The offer will tentatively open on November 22 and close on December 5. The price fixed is Rs 294 per share.
The decision to acquire NDTV was arrived at in furtherance of the Adani Group's objective to set up a credible next-generation media platform with an emphasis on digital and broadcast segments, and that NDTV is a suitable broadcast and digital platform to deliver on this vision. Vishvapradhan Commercial (VCPL) along with AMG Media Networks and Adani Enterprises had proposed to acquire an additional 26 per cent or 1.67 crore equity shares at an offer price of Rs 294 per share.
New Delhi Television operates as a television media company in India and internationally.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 81.06 |
| Sun TV Network | 641.25 |
| GTPL Hathway | 69.83 |
| Network 18 Media Inv | 36.38 |
| TV Today Network | 114.27 |
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