Adani Enterprises buys shares from NDTV founders at 17% premium

The Gautam Adani-led Adani Enterprises on Friday said that it had acquired additional 17.6 million shares of media company New Delhi Television (NDTV), for Rs 342.65 apiece from the Roys, founders of the company, taking its total shareholding to nearly 65 per cent.

The acquisition — which is for a further 27.26 per cent stake in NDTV – has been done through indirect subsidiary RRPR Holding. The deal size works out to Rs 602 crore, based on a disclosure to stock exchanges by Adani Enterprises on Friday. It is at a near 17 per cent premium to the open offer price of Rs 294 a share launched by the Adani group on November 22, which concluded on December 5.