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Shares of New Delhi Television soared as much as 17.25 per cent intraday on the NSE as foreign institutional investor LTS Investment Fund bought 9.75 per cent stake or 62.85 lakh shares in the company from Oswal Greentech at ₹81 a share aggregating to ₹50.9 crore.
On Monday, NDTV shares closed 14.14 per cent higher at ₹91.20 on the NSE.
LTS Investment Fund is a private equity fund based in Mauritius.
Oswal Greentech, engaged in the business of chemicals, fertilisers and entertainment with revenues of ₹364.3 crore in FY16, is listed on the BSE. It held 14.17 per cent stake in NDTV as of June 30.
Shares of Oswal Greentech ended up 4.9 per cent at ₹27.7 on the BSE.
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