Adani Group’s open offer to acquire an additional 26 per cent shareholding in NDTV from the market will start on Tuesday. As per a BSE filing, the offer will close on December 5.
For the offer, a price band of Rs 294 per share has been fixed.
SEBI last week approved the proposed Rs 492.81-crore open offer.
The offer was made by Gautam Adani-led entities in August after they acquired a lesser known company called Vishvapradhan Commercial Pvt Ltd (VCPL) which had lent over ₹400 crore to NDTV founders. VPCL had lent the amount more than a decade ago in exchange for warrants that allowed it to acquire a stake of 29.18% in NDTV at any time.
