Committed to proceed with open offer: Adani Enterprises on NDTV buyout
Adani Group has written to SEBI saying that the transaction has not been ‘consummated due to the stance being taken by RRPR’
Vishvapradhan Commercial Private Limited (VCPL), an indirect subsidiary of Adani Enterprises Limited, has written to the Securities and Exchange Board of India, saying that it is "committed to its vision and intends to proceed with the "Open Offer" made to New Delhi Television Limited.
The letter says that the transaction has not been consummated due to the stance being taken by RRPR. As per media reports, NDTV promoter group firm RRPR has not completed the transfer process.
In August, Vishvapradhan Commercial Private Limited (VCPL), a wholly owned subsidiary of AMNL, said it has exercised the rights to acquire 99.5% of the equity shares of RRPR Holding Private Limited.
