Adani Group’s open offer for news channel NDTV ends today

Nagpur: NDTV shares fell 4% to 394.50 in early trading on Monday, the final day of the Adani Group’s open offer for an additional 26% stake in the broadcaster. According to BSE data, as of 9:30 a.m., investors had tendered 53.27 lakh shares or 31.79% of the size of the offer of around 1.68 crore shares.

NDTV stock has dropped nearly 12% from Rs 447.70 in the previous three sessions. The offer price of Rs 294 is a 25% discount from the CMP. With the transfer of 29.18% of NDTV promoter company RRPR to the Adani Group and shares submitted under the open offer thus far, Adani Group subsidiary VCPL’s shareholding in NDTV now stands at 37.29%, surpassing Radhika and Prannoy Roy’s combined shareholding of 32.26% as of the September quarter end.

Interestingly, the name of Dolly Khanna, a Chennai-based investor who held 1% of NDTV’s equity at the end of the June quarter, does not appear in the September quarter-end shareholding. A total of 182 corporate bodies increased their holdings to 9.86% of the company’s equity at the end of June, bringing the total to 214. The number of retail shareholders in the company increased from 2,9691 to 55,446 at the end of the third quarter, representing 9.29% of NDTV’s equity.