Billionaire Gautam Adani is set to control at least 29 percent of NDTV for Rs 113 crore. The acquisition, announced last week, triggered an open offer for the Adani group to buy another 26 percent of the TV network for nearly Rs 490 crore – 16,762,530 shares at Rs 294 a pop.
The roots of this “hostile takeover” go back to 2009, the year NDTV co-founders Radhika and Prannoy Roy borrowed Rs 403 crore from Mukesh Ambani’s Reliance.
