SEBI Rules, 2011 (Substantial Regulation 8(10) of Acquisition of Shares and Takeovers) which was last amended on July 29^th,2019. According to this regulation, all owners whose shares were accepted in the open offer should receive the difference between the highest purchase price (or transfer price) and the open offer price (within 26 weeks of the offer’s conclusion). It is necessary to pay the difference. Taking the same into consideration, Adani Enterprises is giving investors who gave shares  ₹  26 Crore as rewards. Data indicates that 39.3 lakh shares were tendered in the open offer by corporate investors in NDTV and that the founders of NDTV were also paid  ₹ 342.65 per share.

The open offer of Adani Enterprises, the flagship firm of the Adani Group, began on November 22^nd and ended on December 5^th. Investors bought around 53.2 lakh shares, or one-third of the total open offer size, at a price of  ₹ 294 per share. The latest pay-out would total about  ₹ 26 Crore. On Tuesday, Adani Enterprises said that it will pay shareholders who submitted shares in the open offer the firm made for further stakes in New Delhi Television (NDTV) an extra premium of  ₹ 48.65 per share. In addition, the NDTV founders received  ₹ 342.65 per share on Friday for purchasing an additional 27.26% ownership in the news organization. Friday’s transaction was done at a premium of around 17% to the open offer price, prompting leading advisory firms to question the deal.

According to a report made by Adani Group to stock exchanges on Tuesday, the price difference would be paid to shareholders in accordance with Rule 8(10) of the SEBI SAST Rules. This payment will be made by February 28^th, 2023, according to Adani Group. Corporate investors in NDTV subscribed for 39.3 lakh shares in the open offer, according to category-specific statistics on the NSE. While 7 lakh shares were donated by ordinary investors. AMG Media Networks of the group acquired RRPR Holding in August of last year as part of acquisition ambitions outlined by the Adani Group. Following this acquisition, the Adani Group made an open offer to purchase a further 26% share in NDTV, subject to SEBI’s takeover guidelines.