shot-button
Ganesh Chaturthi Ganesh Chaturthi
Home > News > India News > Article > NDTV shares hit upper circuit for 7th straight day price almost double in a month

NDTV shares hit upper circuit for 7th straight day; price almost double in a month

Updated on: 02 September,2022 01:25 PM IST  |  New Delhi
ANI |

The company's share price has 5 per cent cap upper and lower band

NDTV shares hit upper circuit for 7th straight day; price almost double in a month

Representative image

Share price of New Delhi Television Limited (NDTV) hit the upper circuit limit on Friday surging to the highest level since 2008 on Adani Group's offer to acquire the majority stake in the news channel company.


On the BSE, the share price of NDTV started trading at Rs 515.10. This is the upper price band of the scrip on the BSE. NDTV's previous day's close was Rs 490.60.


The company's share price has 5 per cent cap upper and lower band.


On the National Stock Exchange, NDTV shares were trading at Rs 519.80, which is 5 per cent higher than the previous day's close at Rs 495.05.

NDTV share price has almost doubled in the past one month. The scrip has hit the upper circuit for the seventh day in a row after Adani Group announced a proposal to acquire a majority stake.

Also read: Adani group rejects NDTVs assertion of sebi nod needed for share acquisition

The share price has surged 41 per cent in the past seven trading sessions.

On 23rd August, Adani Group announced a plan to buy a majority stake in NDTV.

Adani Group has made an announcement to acquire 29.18 per cent stake in NDTV by converting debt into equity of a promoter firm.

Vishvapradhan Commercial Private Limited (VCPL), a wholly owned subsidiary of AMG Media Networks Limited (AMNL), has exercised the rights to acquire 99.5 per cent of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV.

AMNL's wholly owned subsidiary VCPL holds warrants of RRPR Holding Private Limited (RRPR) entitling it to convert them into 99.99 per cent stake in RRPR. VCPL has exercised warrants to acquire 99.5 per cent stake in RRPR. Such acquisition will result in VCPL acquiring control of RRPR, Adani Group said in a statement on Tuesday.

RRPR is a promoter group company of NDTV and holds 29.18 per cent stake in NDTV.VCPL, along with AMNL & AEL (persons acting in concert), will launch an open offer to acquire up to 26 per cent stake in NDTV, in compliance with the requirements of the SEBI's (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Adani Group said.

Adani Group has also announced that it would acquire another 26 per cent stake in NDTV through an open offer. This will give Adani Group majority control over the news channel company. 

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK