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Adani Enterprises buys shares from NDTV founders at 17% premium

Proxy advisory firms say premium now must be paid to all shareholders who participated in open offer

NDTV
premium

Experts peg the extra payout to shareholders who tendered their shares in the open offer at nearly Rs 26 crore

Viveat Susan Pinto Mumbai
The Gautam Adani-led Adani Enterprises on Friday said that it had acquired additional 17.6 million shares of media company New Delhi Television (NDTV), for Rs 342.65 apiece from the Roys, founders of the company, taking its total shareholding to nearly 65 per cent.

The acquisition -- which is for a further 27.26 per cent stake in NDTV – has been done through indirect subsidiary RRPR Holding. The deal size works out to Rs 602 crore, based on a disclosure to stock exchanges by Adani Enterprises on Friday. It is at a near 17 per cent premium to the open offer