Adani enterprises on Tuesday said that it will pay an extra Rs.48.65 per share to New Delhi Television Ltd investors who sold their shares to the conglomerate in its open offer for the news network.
The open offer started at Rs.294 per share but after Adani enterprise’s announcement, the price will weigh at Rs.342.65 per share.
The said payment would be completed by February 28, 2023, the company stated in an exchange filing on Tuesday.
About 5.3 million shares were tendered in the open offer, at Rs.294 per share, Indian billionaire Gautam Adani now controls about 65% of NDTV after acquiring a 27.26% stake from the founders Radhika and Prannoy Roy last week, four months after launching his takeover.
Gautam Adani announced his plans of acquiring a majority stake of NDTV in late August. NDTV in the beginning reported that the move “was executed without any input from, conversation with, or consent of the NDTV founders”. Later they agreed to it.
As per the reports, the founders Pranay and Radhika Roy resigned last week after Adani’s takeover of the firm. Along with the Roys 4 other executives also resigned, effective from December 30.
Adani now owns a total of 64.72% stake of NDTV and the Roys will continue to hold a 2.5% stake each of NDTV, according to the statement.
Shares of NDTV are currently trading at ₹344.60 up by 1.43% at National Stock Exchange.
