The Adani group has initiated steps to takeover the NDTV by issuing an open offer for 26 per cent stake in the former and also by exercising its right to convert the share warrants issued by RRPR Holding Private Ltd.
On Tuesday, at the BSE, the NDTV scrip, with a face value of Rs 4, opened at Rs 467.25 and hit the upper circuit. The scrip had closed at Rs 445 on Monday.
Now it’s becoming clearer why the NDTV is taken over by the Adani group. It appears to be a hostile act by the Adani Group where the NDTV was not consulted before the takeover.