Sebi approves Adani's open offer for 26% additional stake in NDTV

Last week, the Adani group had revised the open offer timeline to Nov 22; offer price of Rs 294 a share is at a 24% discount to NDTV's closing price of Rs 365.85 on Monday

Market regulator Securities and Exchange Board of India (Sebi) on Monday approved Adani Group's open offer for 26 per cent additional stake in broadcaster New Delhi Television (NDTV) as per a statement on Sebi's website.

The Adani group had revised the open offer timeline last week, setting the date as November 22 to December 5. It was to be launched on October 17, ending on November 1, but was delayed since Sebi had not given its approval to the open offer of Rs 492.81 crore.

The open offer price of Rs 294 a share is at a 24 per cent