NDTV scrip jumps on stake buy reports

PTI Mumbai | Updated on November 13, 2017

Shares of NDTV rose 6 per cent in the morning trade on the BSE amid media reports that private equity firm DE Shaw is close to acquiring a 14.2 per cent stake in the company for Rs 70 crore.

Shares of the media firm jumped by 6 per cent to touch an early high of Rs 79.50 on the Bombay Stock Exchange. Similarly on the National Stock Exchange, the scrip climbed by 6.14 per cent to a high of Rs 79.45.

On the volume front, over 9 lakh shares of the company changed hands on the bourses within the first two hours of trade.

During the mid-session, the scrip was trading higher by 3.67 per cent at RS 77.75 per cent on the BSE and up by 3.81 per cent at Rs 77.70 on the NSE.

According to the report, DE Shaw will acquire the stake through Merrill Lynch Capital Markets and Nomura Capital in a series of bulk deals at Rs 76.55 per share. These shares are held by Goldman Sachs and GS Mace Holdings. DE Shaw may further increase its stake in NDTV.

On Thursday, Goldman Sachs Investments Mauritius and GS Mace Holdings sold their entire stake in the media house for Rs 70 crore.

In separate deals, Goldman Sachs Investments Mauritius has sold its entire 51.06 lakh shares of the media firm at Rs 76.55 apiece for about Rs 39.09 crore in an open market transaction, while GS Mace Holdings has sold 40.30 lakh equity in NDTV at Rs 76.55 a piece taking the total to Rs 30.85 crore.

According to the BSE data, Goldman Sachs Investments Mauritius and GS Mace Holdings held 7.92 per cent and 6.25 per cent, respectively, in NDTV at the end of the December quarter.

Published on April 08, 2011

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