NDTV shares at 14-year high after Adani takeover offer
The media group's shares were locked at the 5 per cent upper circuit on Wednesday
NDTV's shares touched a 14-year high on Wednesday at Rs 384.50 on the BSE.
This comes after the acquisition of a majority stake in the news channel by the Adani group. The acquisition will trigger an open offer to acquire up to a 26% stake in NDTV in terms of SEBI’s Takeover Regulations.
As per media reports, NDTV's shares were locked at the 5 per cent upper circuit.
The company's market capitalisation jumped Rs 117.99 crore to Rs 2478.92 crore on the BSE, reports said. On NSE, NDTV saw a 4.99 per cent jump.
However, an internal communication by the NDTV management called the acquisition as “without their (Radhika & Prannoy Roy) consent or without any sort of notice.”
