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Adani Group to pay additional 48.65 Rs/share for NDTV shares bought under open offer

Adani Group to pay additional 48.65 Rs/share for NDTV shares bought under open offer

The additional price is to match the money paid to buy out stake of founders

by Team PITCH
January 04, 2023

Adani Group to pay additional 48.65 Rs/share for NDTV shares bought under open offer

Adani Enterprises on Tuesday said it will pay an additional Rs 48.65 a share to NDTV stockholders who tendered their shares in its open offer. The decision has been made to match the price the company has paid to buy out the stake of founders Prannoy Roy and Radhika Roy

The group in a BSE filing said it will pay the additional amount per share to investors who sold their shares in an open offer between November 22 and December 5. This will take the payout to Rs 342.65 a share. NDTV's open offer price was ?294 per share and the promoter transfer price was ?342.65 per share.

Adani Enterprises launched the open offer to acquire an additional 26% stake in NDTV from November 22, 2022 till December 5, 2022. Adani Enterprises Ltd, through subsidiaries RRPR Holding and Vishvapradhan Commercial, now owns 64.72% of NDTV.