IANSHINDIShares of broadcaster () on Monday hit a 5% lower circuit to Rs 393.7 as Adani Group's open offer is set to close today. The latest NSE data shows that the offer was subscribed 32% till late morning.
Adani Group firms - Vishvapradhan Commercial (VCPL), with AMG Media Networks and -- launched the open offer to acquire an additional 26% stake in NDTV, which started on
November 22 at a floor price of Rs 294/share. Markets regulator Sebi on November 7 had granted approval to the proposed Rs 492.81 crore-open offer.
As per NSE data, Adani's open offer received a subscription of 53,27,522 NDTV shares, around 32% of the total offered size of over 1.67 crore equity shares.
Last week the channel's founders and promoters, Prannoy Roy and Radhika Roy, also resigned from their positions as directors on the board of RRPR Holding Pvt Ltd (RRPRH).
The resignation came after the media company said an entity backed by the founders had issued shares to a unit of the Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the firm.
NDTV's latest shareholding pattern at the end of the September quarter shows that promoters Prannoy Roy and Radhika Roy own 15.94% and 16.32% of the company. RRPR owns a 29.18% stake in NDTV.
In the last three days, the stock has cracked nearly 12%, while it has risen 350% since the last year and 240% so far in the calendar year.
Adani Group firms - Vishvapradhan Commercial (VCPL), with AMG Media Networks and -- launched the open offer to acquire an additional 26% stake in NDTV, which started on
November 22 at a floor price of Rs 294/share. Markets regulator Sebi on November 7 had granted approval to the proposed Rs 492.81 crore-open offer.
As per NSE data, Adani's open offer received a subscription of 53,27,522 NDTV shares, around 32% of the total offered size of over 1.67 crore equity shares.
Last week the channel's founders and promoters, Prannoy Roy and Radhika Roy, also resigned from their positions as directors on the board of RRPR Holding Pvt Ltd (RRPRH).
The resignation came after the media company said an entity backed by the founders had issued shares to a unit of the Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the firm.
NDTV's latest shareholding pattern at the end of the September quarter shows that promoters Prannoy Roy and Radhika Roy own 15.94% and 16.32% of the company. RRPR owns a 29.18% stake in NDTV.
In the last three days, the stock has cracked nearly 12%, while it has risen 350% since the last year and 240% so far in the calendar year.
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