NDTV shares at 5% lower circuit on the last day of Adani’s open offer

As per BSE data, the open offer garnered a subscription of 53,27,989 equity shares — accounting for 31.79% of the total offered size of over 1.67 crore equity shares. The data is updated till 4 pm on Monday.

₹414.40 apiece.” title=”Last week, on Friday, NDTV shares closed at ₹414.40 apiece.”>

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On BSE, NDTV shares closed at ₹393.90 apiece down by 4.95%. During trading hours, the stock clocked its 5% lower circuit of ₹393.70 apiece. Its market cap is near ₹2,540 crore.

NDTV stock opened on a broadly flat note at ₹413 apiece, however, picked momentum in early trading hours to reach an intraday high of ₹424 apiece but soon after corrected to drop to the lower circuit on BSE.

Last week, on Friday, NDTV shares closed at ₹414.40 apiece.

AMG Media is a wholly-owned subsidiary of Adani which was incorporated in April this year. While in Q2FY23, the Adani flagship company completed the acquisition of Vishvapradhan Commercial. The trio then announced an open offer to acquire an additional over 1.67 crore equity shares or 26%. Following this, Sebi granted its approval for the open offer on November 7.

The floor price of the open offer was at a discount of ₹294 per equity share compared to the current market price of NDTV. The face value of the equity shares in the open offer is ₹4 each.

If fully subscribed, the open offer would have garnered ₹492.81 crore at the floor price.

On the other hand, Adani Enterprises stock picked up momentum in broader volatile markets. The stock ended at ₹3,929.55 apiece up by ₹8.10 or 0.21%. Adani Enterprises is the tenth largest company in terms of market cap with a valuation of nearly ₹4.48 lakh crore as of December 5, 2022.