Adani Group's Open Offer To NDTV For Rs 493 Bn

On Tuesday, the open offer by the Adani Group to buy an additional 26 per cent of NDTV's stock will begin. A BSE filing states that the offer will expire on December 5.

A price range of Rs 294 per share has been established for the offer.

Last week, SEBI authorised the suggested Rs 492.81 billion open offer.

After acquiring a less well-known business called Vishvapradhan Commercial (VCPL), which had given the founders of NDTV about 400 crores, Gautam Adani-led firms made the offer in August. The money was lent by VPCL more than ten years ago in return for warrants that gave it the right to purchase a 29.18 per cent interest in NDTV at any moment.