Adani Enterprises gains as its arm acquires 27.26% stake in NDTV
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Adani Enterprises is currently trading at Rs. 3847.00, up by 37.00 points or 0.97% from its previous closing of Rs. 3810.00 on the BSE.
The scrip opened at Rs. 3812.10 and has touched a high and low of Rs. 3858.45 and Rs. 3812.10 respectively. So far 5823 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4189.55 on 21-Dec-2022 and a 52 week low of Rs. 1529.55 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 3858.45 and Rs. 3620.50 respectively. The current market cap of the company is Rs. 434340.43 crore.
The promoters holding in the company stood at 72.63%, while Institutions and Non-Institutions held 20.92% and 6.45% respectively.
Adani Enterprises’ indirect subsidiary and member of the promoter/promoter group of NDTV -- RRPR Holding (RRPR) has acquired 27.26% equity stake in NDTV from Prannoy Roy and Radhika Roy (Sellers) by way of inter-se transfer under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition is of strategic nature in the interest of RRPR.
The acquisition was completed on December 30, 2022 on block deal window of NSE. The settlement is subject to exchange procedures and formalities. Vishvapradhan Commercial (an indirect subsidiary of the Company) holds 8.27% equity stake in NDTV and RRPR (prior to the present acquisition) held 29.18% equity stake in NDTV. Consequent to the present acquisition, RRPR will hold 56.45% equity stake in NDTV.
Adani Enterprises (AEL) is the flagship company of Adani Group, one of India’s largest business organisations.
