Work in Progress

Post the open offer, the Adani Group holds 37.5 per cent in NDTV while the Roys jointly own 32.3 per cent

- ASHISH RUKHAIYAR

THE OPEN OFFER for 26 per cent stake in New Delhi Television NDTV) by the Gautam Adani-led Adani Group had its share of surprises. Of the 16.76 million shares which formed the open offer, 5.33 million or 32 per cent of the total offer size, was tendered. Interestingly, while the offer price was ₹294 per share, the prevailing rate in the market was ₹393.90, on December 5, the last day of the open offer. Post the offer, the Adani Group’s stake in NDTV is pegged at around 37.5 per cent, making it the single largest shareholder in the company.