On the BSE, NDTV shares fell 4.68 percent to Rs 395. So far, 21,000 NDTV shares have changed hands, compared to a two-week average of 59,000 shares.
Image: Bloomberg
At 10.30 a.m., the scrip had 17,218 sell orders against 3,483 buy orders on the BSE.
Against the issue size of 16,762,530 shares, the open offer received bids for 53,27,522 shares (32% of the issue size), despite the offer price of Rs 294 per share.
According to data, qualified institutional buyers tendered 6,86,000 shares, non-institutional corporates tendered 39,34,828 shares, and individuals tendered 7,06,694 shares.
On November 7, the Sebi issued its final comments on the proposed Rs 492.81 crore open offer. The open offer began on November 22.
AMG Media Networks, an Adani Group wholly-owned subsidiary, acquired a 100% stake in VCPL last quarter.
VCPL held warrants from RRPR Holding Private Limited (RRPR), a promoter company that owns 29.18% of NDTV.
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Vishvapradhan Commercial, AMG Media Networks, and Adani Enterprises are now attempting to acquire an additional stake in the media company through an open offer.
Prannoy Roy and Radhika Roy had 16.32% and 15.94%, respectively, in NDTV as of September 30.
LTS Investment Fund, which owns 9.75 percent of NDTV, is one of the company's largest public shareholders.
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