New Delhi, Aug 23: Adani group firms on Tuesday made an offer to acquire 26 per cent stake of New Delhi Television Ltd (NDTV) following indirect acquisition of 29.18 per cent shareholding in the media and news broadcaster.

Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders.

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A public announcement has been made by JM Financial Ltd, which is managing the offer on behalf of the acquirers.

"The Offer Price is higher than the price determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations," the offer said.

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On Tuesday, shares of NDTV settled at Rs 366.20 on BSE, up 2.61 per cent from the previous close.

Its revenue for the financial year ended March 31, 2022 was Rs 230.91 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)