No takers for Adani’s open offer for additional shares in NDTV on day one

The Adani group’s open offer for additional shares in New Delhi Television (NDTV) saw no takers on Tuesday — the first day of its launch. The open offer for 16.7 million shares at Rs 294 apiece will close on December 5. The nearly Rs 493-crore open offer is for an additional 26 per cent stake in the company.

The stock exchange data showed that no shares were tendered so far in the open offer, even as the NDTV stock price fell for the third day in a row. On Tuesday, shares of NDTV closed at Rs 376.25 apiece on the BSE, down 1.56 per cent over the previous day’s close. Since Thursday, NDTV’s stock price has fallen 11.17 per cent on the BSE.