Adani Group's Open Offer For NDTV Starts TodayThis stake will be in addition to the 29.18 per cent stake which was acquired by the company indirectly in August
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Adani Group's open offer to buy a further stake of 26 per cent in NDTV begins today. This stake will be in addition to the 29.18 per cent stake which was acquired by the company indirectly in August.
Last week, Sebi approved Adani Group's open offer to buy an additional 26 per cent stake in broadcaster New Delhi Television Ltd, marking a crucial turning point in the takeover battle between Gautam Adani and NDTV.
Adani's initial plan was to launch its open offer last month, but was delayed as it awaited SEBI's nod. The takeover bid was triggered after ports-to-power conglomerate acquired an indirect 29.18 per cent stake in the broadcaster in August.
"The decision to acquire NDTV was arrived at in furtherance of the Adani Group's objective to set up a credible next-generation media platform with an emphasis on digital and broadcast segments, and that NDTV is a suitable broadcast and digital platform to deliver on this vision," Adani Enterprises had earlier said in a BSE filing.
Adani is now one step closer to gaining a bigger footprint in the media sector. Adani is rapidly expanding its empire beyond coal mining, ports to branch into airports, data centers, cement and digital services.
