Adani group’s Rs 493-cr open offer for NDTV to open on Tuesday

Adani group’s open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) from the market will start from Tuesday.

The offer with a price band of Rs 294 per share will open on November 22 and close on December 5, said a notice by JM Financial, the firm managing the offer on behalf of Adani Group firms.

The offer price is 23.07 per cent lower than NDTV’s Monday closing price of Rs 382.20 on BSE.

In the last three months, NDTV’s share prices reached a high of Rs 540.85 on September 5, 2022.