Adani acquires stake in NDTV: Will retail investors benefit?

Putting an end to months of speculations, billionaire Gautam Adani’s media division officially sought control of New Delhi Television or NDTV, on Tuesday.

Adani Group said it had used financial rights to purchase a 29.18% stake in NDTV, through the conversion of loans into an equity stake in the promoter group.

It further laid out plans for a subsequent open offer for a stake of another 26% at Rs 294 per share, valued at Rs 493 crore.

On its part, NDTV said its founder-promoters had not consented to the exercise of rights.

Analysts said, prima facie, the takeover appears to be a ‘hostile’ one, and that the battle of ownership could be a long drawn affair.