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Adani Group subsidiary acquires indirect 29.18% stake in NDTV and makes open offer

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  • Adanic group announced an open offer for a stake of up to 26 percent in NDTV at a price of 294 per share.
  • The statutory announcement of an open offer has also been filed with the stock exchanges.
  • NDTV’s share price closed at ₹366.20 BSE on Tuesday.

Adani Enterprises Ltd announced the stock exchanges upon the exercise by VCPL, its wholly owned subsidiary, of warrants of RRPR to acquire 99.5 percent of RRPR and the resulting indirect acquisition of 29.18 percent of NDTV shares held by RRPR.

It has also announced an open offer for a stake of up to 26 percent in NDTV at a price of ₹294 per share. The NDTV share price closed on Tuesday at ₹ 366.20 on BSE.

The exercise of the warrant has been handed over to the RRPR team and confirmation has been obtained on the original and the exercise money of the warrant has been transferred to RRPR’s bank account before the press release was sent to the exchanges.

The statutory announcement for an open offer to acquire 26 percent of the NDTV shares has also been filed with the stock exchanges.

SEE ALSO: Adani group loses ₹94,000 crore in value after report says it is ‘deeply overloaded’

Gautam Adani’s overambitious growth plans could end up in a massive debt trap: Fitch

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