SEBI Approves Adani Group's: Adani's Acquisition Of NDTV Gets a Boost Elvowire

SEBI Approves Adani Group’s Open Offer to Acquire NDTV. The Securities & Exchange Board of India (SEBI) has approved the Adani Group’s open offer to acquire additional equity in NDTV. The offer will be launched on November 22 and will close on December 5.

Adani Group is a leading conglomerate with interests in infrastructure, power, logistics, and other sectors. The group has been steadily expanding its media and entertainment portfolio, and the acquisition of NDTV will give it a significant presence in the Indian media landscape.

NDTV is one of India’s leading news and entertainment channels, with a wide reach and a strong reputation for quality journalism. The channel has won numerous awards over the years, including the prestigious Ramon Magsaysay Award for Journalism, Literature, and Creative Communication Arts.

With SEBI’s approval, the Adani Group is now one step closer to acquiring a majority stake in NDTV. This will allow the group to leverage its vast resources and expertise to further grow the channel, delivering even better quality content to its viewers.

Adani Group has offered to buy NDTV shares at Rs 294 ($3.6) each, while the media firm’s stock closed 24% higher at Rs 364.85 on Monday in Mumbai. The move comes as a boost to Adani’s plans to acquire a controlling stake in the beleaguered media company, which has been struggling to stay afloat in recent years.

SEBI’s clearance is a significant development as it paves the way for Adani to launch an open offer for 26% of NDTV’s shares, as required under Indian takeover rules. Adani’s offer represents a premium of around 60% to NDTV’s current share price, and is likely to be well received by shareholders. The deal is still subject to regulatory approvals, but if successful, it would give Adani a controlling stake in the company.