ndtv share price, another company in Adani’s fold; ndtv shares hit 5 percent upper circuit after sebi approves adani group’s open offer
what’s the deal
The Adani Group had acquired Vishwapradhan Commercial Private Limited (VCPL) in August. VCPL had lent over Rs 400 crore against warrants to the founders of NDTV a decade ago. NDTV’s founders allowed the company to buy 29.18 percent stake in the media conglomerate in case of default. Through this, Adani Group has acquired a stake in the company. The company is buying the stake under an open offer. Under an open offer, the acquiring company involves the shareholders of the firm to be bought in its deal. An open offer is an offer to sell shares to specified shareholders of the selling company at a specified price.
Status of Company Shares
NDTV stock has returned 233.23% this year YTD. That is, during this period, this share has increased from Rs. 114.94 to Rs. 383.05. The stock has given a strong return of 365.15% in the last one year and has risen from Rs 82.35 to the current share price.
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Opportunities for investors too
Adani Group has offered an opportunity to buy the stock at Rs 294 per share in the open offer. If this open offer is fully subscribed, the group will get Rs 492.81 crore. The Adani Group has told the bourse that NDTV has been acquired to focus on media and broadcast and create a next-generation platform. NDTV is the right broadcasting and digital platform for this.
Upper Circuit to NDTV shares
Shares of the company rose for the second day in a row after news of the Adani Group’s acquisition and Sebi’s approval of the open offer. On Monday, its shares were up 1.99 per cent on the BSE, setting an upper circuit of 5 per cent in early trade today, Tuesday.
