Television

Adani gets 32 per cent subscription for open offer of NDTV shares

The open offer closes on 5 December.

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Mumbai: Adani Group has received 32 per cent subscription for its open offer of New Delhi Television (NDTV) shares. The open offer closes on 5 December. This subscription is despite the fact that the discount for the open offer at Rs 294 was over 29 per cent of the share price.

Vishvapradhan Commercial along with AMG Media Networks and Adani Enterprises launched the open offer to acquire an additional 26 per cent stake in NDTV.

Adani's open offer had received nearly 53.28 lakh subscriptions of NDTV shares --- 31.79 per cent of the total offered size of over 1.67 crore equity shares.

Corporate investors have offered the most at 39.34 lakh shares while retail investors have offered a little over seven lakh shares. Qualified institutional buyers (QIBs) have tendered 6.86 lakh shares, according to the NSE data which did not identify either the corporates or QIBs who have offered to sell their shares.

The shares tendered so far is 8.26 per cent of NDTV. So the Adani group has a 37.44 per cent stake — larger than the 32.26 per cent holding of founders Prannoy Roy and Radhika Roy.

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