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Adani Group's open offer gets approval from the SEBI to buy an additional 26% stake of the minority stakeholders in NDTV ltd.
The offer has been revised to set the rollout date to 22nd November and will close on 5th December.
The Adani group has lent over ₹400 crores to the founders of NDTV- Prannoy Roy and Radhika Roy, in exchange for warrants that allowed the firm to acquire a stake of 29.18% in the newsgroup at any time. The same was bought by the group in August 2022.
LTI and mindtree approved for merger, 5th largest merger in IT sector.
The founders of NDTV claim that they were completely unaware of the takeover and it was done without their consent.
With this Adani group will set their foot in the media sector. Gautam Adani, the billionaire is rapidly diversifying his empire into airports, data centers, cement, and digital services.
Adani group has offered to buy the shares of the media firm NDTV at Rs. 294 apiece.
NDTV has reported an increase of 4.4% in consolidated net profit to ₹13.03 crore for the second quarter that ended September.
The shares of the NDTV are trading at Rs. 383.05 up by 4.99%
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