Adani Group to pay additional Rs 48.65 per share for NDTV shares it bought

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NEW DELHI: Adani Enterprises on Tuesday said its indirect subsidiary Vishvapradhan Commercial Private Limited (VCPL) will make an additional payment of Rs 48.65 per share for the shares bought under an open offer.
In a regulatory filing with stock exchanges, Adani Enterprises said the additional payment will be made by February 28, 2023.

The stake buy started on August 23, 2022, and VCPL bought 53,30,792 shares, or 8.27 per cent of equity, in NDTV in the recently concluded open offer at a price of Rs 294 per share. The payment of consideration towards the accepted shares to the tendering shareholders was completed on December 15, 2022.

As recently as Friday, the Adani Group said it had acquired a 27.26 per cent equity stake in NDTV from the promoters Prannoy Roy and Radhika Roy at Rs 342.65 per share, and also indicated that the conglomerate had acquired the majority stake in the media firm.

According to the company filing in stock exchanges on Tuesday, Adani Group said that it intends to inform the public shareholders of NDTV whose shares were accepted in the open offer, that since the transfer price is higher than the offer price, the company, in compliance with regulation 8(10) of the SEBI (SAST) regulation, will be making an additional payment of Rs 48.65 per equity share to the accepted public shareholders.

In total, Adani Group now controls around 65 per cent of NDTV. (ANI)

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