New Delhi: SEBI has given approval to the Adani Group to acquire 26 percent stake in the national news television company NDTV in the market.
The Adani Group, which has already acquired 29.18 percent stake in NDTV indirectly, is now looking to acquire an additional 26 percent stake through the market.
Subsequently, it had announced that it would buy 26 percent shares in the market during the period from 22nd of this month to 5th of December.
In this case, SEBI has given permission for this initiative of Adani Group.
Adani Group is going to buy 1.67 crore NDTV shares in this ‘open offer’ operation of buying through the market.
In this transaction, the price of one share has been fixed at Rs 294, said ‘JM Financial’, which has been appointed to manage the work of buying shares in the market.
Earlier, the Adani Group had announced that it would buy these shares in the market during the period from October 17 to November 1.
But due to some practical issues, the attempt to buy the shares got delayed.
Now that it is back in the field, SEBI has also given permission.
If this venture is successful, 55 percent shares of NDTV will come into the hands of Adani Group.
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