By IANS
New Delhi : Prannoy Roy and his wife Radhika Roy, promoters of the media house New Delhi Television Ltd (NDTV), Monday made an open offer to acquire 20 percent equity in the company for Rs.438.98 per share, which is worth some Rs.5.5 billion ($140 million).
“Equity shares acquired via the open offer will be acquired equally between Prannoy Roy and Radhika Roy. There are no partly paid up equity shares in the Target Company,” said a mandatory filing by the company.
The open offer is for 12,525,336 equity shares of Rs.4 each, representing 20 percent of the voting share capital of NDTV.
The Roys had earlier acquired 7.73 percent equity from GA Global Investments, a foreign institutional investor. Accordingly, the cap on holdings in the company by foreign funds and non-resident Indians stood released to that extent.
The shares of the company, founded in 1988, closed at Rs.462.60 on the Bombay Stock Exchange (BSE) with a gain of 0.60 percent over the previous close at Rs.459.85.