On 27 June and there was a serious buzz in the Bombay Stock Exchange. The excitement among investors was so huge that shares of NDTV surged by 20%.

The reason for this buzz was a SEBI order.

Vishvapradhan, a subsidiary of Reliance, issued loans to NDTV in 2009. SEBI considered these transactions Vishvapradhan’s ‘indirect control’ over NDTV. SEBI said that the law was bypassed and an open offer wasn’t issued. Hence, an open offer should be put forward (retrospectively).

Right now, NDTV shares aren't worth much. If you consider the price of NDTV shares in 2009, they should be worth Rs 450 today. In 2009, their value was Rs 214 on which a 10% interest rate was imposed.