Adani group to acquire 26% NDTV’s share through open market New Delhi: Adani group Tuesday launched a hostile takeover bid of NDTV, with an open offer to acquire an additional 26 per cent or 1.67 crore equity shares for up to Rs 493 crore. Three Adani group firms – Vishvapradhan Commercial Pvt Ltd (VCPL) along with AMG Media Networks and Adani Enterprises Ltd – have come out with a public announcement for the offer under the Sebi norms. At a price of Rs 294 per share, the open offer will amount to Rs 492.81 crore. “Assuming full acceptance of the Offer, the aggregate consideration payable to the public shareholders will be up to Rs 492.81 crore. The Offer Price is higher than the price determined in accordance with Regulation 8 (2) of the SEBI (SAST) Regulations,” the public announcement said. The offer price will be paid in cash by the acquirer, said the public announcement by JM Financial Ltd, which is managing the offer on behalf of the acquirers. While citing the reason that triggered the open offer obligations, the announcement said pursuant to loan agreements dated July 21, 2009, and January 25, 2010, entered between the acquirer, RRPR Holding (a promoter company), Prannoy Roy and Radhika Roy, the acquirer at its discretion has the right to exercise warrants issued to it by the promoter company.