Sebi approval not needed for buying NDTV shares: Adani Enterprises

Says any subsequent attempt to return money received or original warrant certificate will have no legal effect on exercise of warrants by VCPL

The much-awaited and keenly-followed open offer by Adani Group to acquire another 26 per cent – after indirectly acquiring a stake of 29.18 per cent – in New Delhi Television (NDTV), which was scheduled to open on Monday, has been delayed as the requisite regulatory approvals for the offer are yet awaited. 

According to data available on the website of the capital markets regulator Securities and Exchange Board of India (Sebi), the market watchdog had sought certain clarifications related to the open offer from the merchant banker – JM Financial – on October 11 and the response is still awaited. 

Interestingly, it