Adani Group's NDTV open offer to end today

Adani Group's open offer, which saw a subscription of almost 32% of the shares of NDTV, will end today (December 5). The open offer, which started on November 22, by Vishvapradhan Commercial, Adani Enterprises, and AMG Media Networks, is meant to buy 26% more stake in NDTV. The floor price for the offer has been fixed at â‚¹294 for each equity share.

BSE data shows that the open offer received almost 53.28 lakh subscriptions of the shares of NDTV.

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Adani’s initial plan was to run the open offer on October 17. But SEBI refused to give its approval. But soon, Vishvapradhan Commercial, AMG Media Networks, and Adani Enterprises came up with an open offer for acquiring more than 26% stake or 1.67 crore equity shares. Then, on November 7, SEBI gave its nod for the open offer.

Now, Adani Group, by virtue of being the biggest shareholder of NDTV, can appoint two directors, which include the chairperson.

Prannoy Roy currently owns 15.94% stake, and his wife Radhika holds 16.32%.