| Thursday, 01 December 2022 |
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Good morning [%first_name |Dear Reader%],
Sometimes, when you are an investor in the stock market (or studying it to make a future investment, perhaps), you tend to come across some oddball things. Total headscratchers.
Like, why would someone sell something for Rs 10 when they could sell it for Rs 15?
But that’s exactly what is happening in the NDTV-Adani saga. The start of which we’d written about back in August—NDTV, Adani, and the debtors’ dilemma.
The already twisted affair of NDTV’s hostile takeover by Adani Enterprises is now in its final lap. And many ‘public’ NDTV shareholders have been tendering their shares to an Adani entity at a price far lower than the market price in the open offer.
Why would anyone do that?
But wait. Let’s not get ahead of ourselves. First, a quick recap of the story so far. In August, Adani Enterprises, the flagship company of the Adani Group, indirectly acquired ~29% in broadcast and digital news network NDTV.
