The Adani group’s open offer for additional 26 percent shares of New Delhi Television Limited, or NDTV, that began tendering after over a month’s delay on November 22, 2022, finally came to a close yesterday. Managing to get 31.7 percent of the bid quantity, the group acquired 8.26 percent of NDTV’s shares. As it already had 29.18 percent stake in NDTV, through the media group’s holding company, RRPR Holding Private Ltd (RRPR), its overall stake totals to 37.44 percent. This makes them the largest shareholders of NDTV.
The group’s subsidiary, AMG Media Networks Ltd (AMNL) that financed the offer, had deposited the full required amount of Rs 493 crore in Vishvapradhan Commercial Private Ltd’s escrow account prior to the original opening date, October 17. The delay from the open offer’s original schedule had been on account of awaiting approval from SEBI, given its orders restraining NDTV’s promoters, Radhika and Prannoy Roy, from dealing in securities.
