Home / Markets / Stock Markets /  Investors tender 16.54% shares for Adani Group offer on Day 3

MUMBAI : Shares tendered by NDTV investors for Adani Group’s offer stood at 27.72 lakh shares (16.54%) as on the third day against the offer size of 1.67 crore shares.

The open offer by Adani Group’s wholly owned subsidiary VCPL to acquire an additional 26% in NDTV runs from November 22-December 5.

The share price of NDTV rose 2.4% to 367.25 apiece on Thursday . A total 13,146 shares changed hands on the BSE. Delivery as a percentage of traded quantity stood at 100% .

The share trades at a premium of nearly 25% to the offer price of 294 apiece .

The open offer size is 492.81 crore at the price of 294 a share.

The shares are being acquired through the open offer by VCPL, a wholly owned subsidiary of AMG Media Networks , in turn a wholly owned subsidiary of Adani group . AMG and Adani Enterprises are persons acting in concert with the acquirer.

Adani acquired VCPL which had lent over 400 crore to NDTV’s founders over a decade ago , by which it indirectly acquired 29.18% in the media group , triggering an open offer .

JM Financial is the book runner for the offer .

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout