NDTV to give two board seats to Adani Group firm

NDTV has offered billionaire Gautam Adani’s group two seats on its board of directors for the pre-open offer 29.18 per cent shareholding the ports-to-energy conglomerate had acquired in the broadcaster, according to a stock exchange filing.

The Adani group acquired a 29.18 per cent stake in NDTV by buying a company backed by the television network’s founders, Radhika Roy and Prannoy Roy. Thereafter, it made an open offer to acquire an additional 26 per cent from public shareholders.

That open offer found investors willing to sell over 53 lakh shares of New Delhi Television (NDTV) despite the deep discount on the stock’s trading price.