Adani Raises NDTV Open Offer Price To Match What It Paid Roys

Adani Enterprises Ltd., through its indirect subsidiary Vishvapradhan Commercial Pvt., will make an additional payment for NDTV shares acquired via the open offer.

Adani Enterprises will offer an extra Rs 48.65 per share over the Rs 294 it paid for NDTV shares in the open offer.

This brings the cost per share to Rs 342.65, the same as the amount paid per share for the promoters' 27.6% stake.

The additional payment will be made to those who tendered their shares in the open offer by Feb. 28, according to an exchange filing.

Adani had launched an open offer for NDTV after it acquired Vishvapradhan, which allowed it to acquire a stake of 29.18% in the news broadcaster at any time.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.