Adani Group's open offer for NDTV ends today

 

• Against the offer size of about 1.68 crore shares, investors had offered 53.27 lakh shares or 31.79% till 9:30 am

MUMBAI: Shares of NDTV were trading 4% lower at ₹394.50 in opening session on Monday, the last day of Adani Group's open offer for additional 26% stake in the broadcaster.

As per BSE data, against the offer size of about 1.68 crore shares, investors had subscribed 53.27 lakh shares or 31.79% shares till 9:30 am.

NDTV stock has fallen nearly 12% from ₹447.70 seen in last three sessions. The offer price of ₹294 is at 25% off on CMP.

With the transfer of 29.18% by NDTV promoter company RRPR to the Adani Group and the shares deposited so far under the open offer, Adani Group's subsidiary VCPL's shareholding in NDTV now stands at 37.29%, taking Radhika and Prannoy Roy's combined shareholding to 32.26%. % More than. at the end of the September quarter.

Interestingly, the name of Chennai-based investor Dolly Khanna, who held 1% of NDTV's equity at the end of June quarter, does not figure in the shareholding at the end of September quarter.

A total of 182 body corporates, which held 9.61% of the company's equity, increased their stake to 9.86% at the end of June, taking the tally of 32 more corporates to 214.

The number of retail shareholders in the company rose by 9.29% to 55,446, accounting for 8.52% of NDTV's equity at the end of June to 2,9691 in the quarter ended September.

The open offer to acquire additional 26% in NDTV by VCPL, a wholly owned subsidiary of Adani Group, commenced on 22 November.

NDTV last week said in a statement to the stock exchanges that "Promoter Group Vehicles RRPR Holding Pvt Ltd (RRPRH) has informed that the Board of Directors at its meeting held today i.e. November 29, 2022... Board of RRPRH Appointment of Shri Sudipta Bhattacharya, Shri Sanjay Puglia and Shri Senthil Sinniah Chengalvarayan as Directors on the Board with immediate effect; and 2. Resignation of Dr. Prannoy Roy and Smt. Radhika Roy as Directors on the Board of RRPRH, Business dated November 29, 2022 With effect from closing hours."