Adani group subsidiary to indirectly acquire 29.18% stake in NDTV, makes open offer

• Adani group announced an open offer for up to 26 percent stake in NDTV at a price of ₹294 per share.

• The statutory announcement for an open offer has also been filed with the stock exchanges.
  
• The share price of NDTV closed at ₹366.20 on BSE on Tuesday.
  

Adani Enterprises Ltd has intimated the stock exchanges on tge exercise by VCPL, its wholly-owned subsidiary, of warrants of RRPR to acquire 99.5 percent of RRPR and consequent indirect acquisition of 29.18 per cent NDTV shares held by RRPR.

It has also announced an open offer for up to 26 per cent stake in NDTV at a price of ₹294 per share. The share price of NDTV closed at ₹ 366.20 on BSE on Tuesday.

The warrant exercise has been hand delivered to the RRPR team and acknowledgement obtained on the original and the warrant exercise money has been remitted to RRPR's bank account before the press release was sent to the stock exchanges.

The statutory announcement for an open offer for acquiring 26 per cent of NDTV shares has also been filed with the stock exchanges.

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