M&A

M&A

Adani Group becomes single-largest shareholder in NDTV with 37.4% stake

Business Standard  

Adani Group's 13-day open offer for an additional 26% stake in New Delhi Television (NDTV) closed with investors tendering 5.32 million shares or a third of the open offer size of 16.7 million shares. As a result, the Adani Group, which already had a 29.18 % in NDTV, has picked up an additional 8.26 % stake in NDTV through the open offer route. It is now the largest shareholder in the news broadcaster with a 37.44 % stake, ahead of the founder-promoters Radhika and Prannoy Roy, who together hold 32.26 %.