Adani open offer ends: Total shareholding in NDTV at 37%

As per BSE data, the open offer garnered a subscription of 53,27,989 equity shares

by Team PITCH
December 06, 2022

Adani open offer ends: Total shareholding in NDTV at 37%

Adani Media Networks has acquired an 8% additional stake in the open offer for NDTV. The company’s total shareholding now stands at 37% in NDTV, say media reports.

On the last day of Adani Group's open offer on Monday, NDTV shares traded at a 5% lower circuit.

Vishvapradhan Commercial along with AMG Media Networks and Adani Enterprises launched the open offer to acquire an additional 26% stake in NDTV began on November 22 and was scheduled to close on December 5. The open offer did not fully subscribe, as per the latest update on BSE and NSE. Adani garnered around 58 lakh equity shares of NDTV which was not even half of the total size in the open offer.

As per BSE data, the open offer garnered a subscription of 53,27,989 equity shares accounting for 31.79% of the total offered size of over 1.67 crore equity shares. The data is updated till 4 pm on Monday.

On BSE, NDTV shares closed at ?393.90 apiece down by 4.95%. During trading hours, the stock clocked its 5% lower circuit of ?393.70 apiece. Its market cap is near ?2,540 crore. Last week, on Friday, NDTV shares closed at ?414.40 apiece.

NDTV stock opened on a broadly flat note at ?413 a piece, however, picked momentum in early trading hours to reach an intraday high of ?424 apiece but soon after corrected to drop to the lower circuit on BSE.