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The Times of India
The Times of India
Business
Bloomberg

Gautam Adani gets approval for NDTV open offer boosting takeover bid

Gautam Adani NDTV New Delhi Television Ltd Mumbai Adani Group Asia SEBI

MUMBAI: Billionaire Gautam Adani’s conglomerate received the regulatory nod to float an open offer for a further 26% stake in New Delhi Television Ltd, marking a crucial milestone in a takeover battle between Asia’s richest person and the broadcaster’s founders.

The Securities & Exchange Board of India, or SEBI, approved Adani Group’s open offer, according to a statement on the market regulator’s website Monday, allowing Adani to buy more equity from the media firm’s minority shareholders. The conglomerate revised the offer’s roll out date to November 22. It will close on December 5, NDTV said last week.

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