Adani Group To Bring Open Offer For 26 % Stake On 17 October

The Adani Group, owned by Gautam Adani, the world's third-richest man, is gearing up to acquire New Delhi Television (NDTV) to strengthen its presence in the media sector. This process has become more interesting after Gautam Adani became the third richest person in the world. On behalf of NDTV, it has been said by citing an earlier order of SEBI that as per the directions of SEBI, at present no change is made in the company's stake.

Whereas this has been answered by the Adani Group by saying that this deal has nothing to do with the instructions of SEBI. Taking a big step in this matter, the Adani Group has now announced an open offer. Adani Group has announced to launch of an open offer on October 17 to buy an additional 26 percent stake in NDTV. This open offer will be launched by a company named JM Financial. This open offer will launch on October 17 and close on November 1.

Through this open offer, the company will try to buy 1.67 crore shares of NDTV Group. If the offer is subscribed in full at this price, then its total amount will be Rs 492.81 crore. It is worth noting that last week Adani Group announced to buy 29.18 percent shares in NDTV Media Group indirectly. At the same time, NDTV said in the information given to the stock market, the Securities and Exchange Board of India (SEBI) on November 27, 2020, prohibited the promoters Prannoy and Radhika Roy from buying and selling shares in the securities market.