Shares of NDTV fell nearly 4% in early trade today after LTS Investment Fund sold 5,46,379 shares of the media company at Rs 358.53 apiece on Wednesday. NDTV stock slipped 3.63% to Rs 344.40 in early trade against the previous close of Rs 357.40 on BSE. The stock opened 3.18% lower at Rs 346.05 today. Market cap of the media company fell to Rs 2,236.51 crore on BSE. NDTV stock has fallen 22.48% in the last six days.
However, in a year, the share has zoomed 305.63 per cent and gained 200.22 per cent since the beginning of this year. Total 0.26 lakh shares changed hands amounting to turnover of Rs 90.79 crore.
The stock hit a 52-week high of Rs 567.85 on September 6, 2022 and fell to a 52 week low of Rs 85 on December 8, 2021.
The company was in news recently after Vishvapradhan Commercial Private, AMG Media Networks and Adani Enterprises Limited made an open offer to the existing shareholders for an additional 26 per cent stake in the media firm. ┬а
Sebi gave its final comments on the proposed Rs 492.81 crore-open offer on November 7. The open offer started on November 22.
In the last quarter, a wholly owned subsidiary of the Adani Group, AMG Media Networks, acquired 100 per cent stake in Vishvapradhan Commercial Private (VCPL). VCPL held warrants of RRPR Holding Private Limited (RRPR), a promoter company holding 29.18 per cent stake in NDTV.
Vishvapradhan Commercial along with AMG Media Networks and Adani Enterprises later launched an open offer to acquire the additional stake in the media firm. Prannoy Roy and Radhika Roy held 16.32 per cent and 15.94 per cent stake, respectively, in NDTV as of September 30.
LTS Investment Fund is among NDTV’s biggest public shareholders and owns a 9.75 per cent stake in the company.
Meanwhile, Sensex rose 202 points or 0.32 per cent to trade at 62,613 and Nifty gained 62 points or 0.33 per cent to 18,622 in early trade. Eicher Motors, Axis Bank, IndusInd Bank, M&M, ICICI Bank were among the top gainers.
