Adani buys stake, launches open provide

Adani buys stake, launches open provide

by admin- Wednesday, August 24th, 2022 02:48:50 PM


Adani Enterprises has made a move to accumulate a controlling stake in information community New Delhi Television Ltd (NDTV). Adani’s media unit AMG Media Networks has exercised the rights to convert the fantastic mortgage to NDTV’s maintaining business enterprise, ensuing in acquisition of a 29.18% stake in NDTV.

Thereafter, Adani unit will release an open provide to shop for every other 26% stake from shareholders at Rs. 294 in step with share (almost 20% discount to LTP).

Post the open offer, Adani Enterprise would be the most important shareholder in NDTV. NDTV recorded a Revenue of Rs. 421 crore with an EBITDA of Rs. 123 crore and Net Profit of Rs. 85 crore in FY22 with negligible debt.

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