#ADANIENT to become the largest shareholder in #NDTV ?

🌟Current News: Many of us might be aware of the open offer set by Adani to acquire a part stake in NDTV. The open offer price is set at Rs. 294 per share while the stock currently trading at around Rs. 401 per share (~36% discount).

🌟History of this deal: VPCL advanced a loan of Rs 400 crores to the promoters of NDTV in 2009. This loan was never paid and owing to the clause present in the loan agreement, VPCL would be getting a 29.18% stake in NDTV. VPCL recently became a subsidiary of Adani Media which technically means Adani already holds 29.18% of NDTV.

🌟Future: Now Adani’s current offer is for 26% in NDTV and the Committee of Independent Directors (IDC) of NDTV is of the opinion that the open offer price set by Adani is fair and reasonable as it is above the minimum price determined based on SEBI’s substantial acquisition of shares and takeovers regulations.

The NDTV open offer will commence on November 22nd and tentatively close on December 5th.

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