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Accordingly, the planned stake sale in ZEEL to financial investors was conducted in order to repay loan obligations to certain lenders of the group."I am overwhelmed by the positive response received from our investors. Glad to share that the book was over-subscribed by approx. 3 times," ZEE Entertainment Enterprises' MD & CEO Punit Goenka."I am grateful to our lenders & investors for their trust. I remain committed to elevate ZEE to a global media & entertainment powerhouse!"On Thursday, the company's scrip price at the BSE rose 12.40 per cent or Rs 38.10 to Rs 345.25 from its previous close of Rs 307.15.Earlier this year, Essel Group had sold up to 11 per cent in Zee Entertainment to Invesco Oppenheimer Developing Markets Fund for Rs 4,224 crore.According to sources, global investors such as GIC, Blackrock, Capital Research, SBI MF, HSBC Global, Segantii Capital, Marshall Wace, Norges Bank, Key Square, ICICI Prudential, Reliance MF and Welington Mgmt invested in the stake sale.Post the transaction, the promoter stake in Zee Entertainment has been reduced to 5 per cent, which means that media baron Subhash Chandra will lose control of Zee Entertainment Enterprises Ltd.Zee, considered the pioneer of television entertainment industry in India, was launched by Subhash Chandra in 1992. Ever since the launch year, the company expanded operations to enter packaging, infrastructure, education, precious metals, finance and technology sectors.( With inputs from IANS )

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Zee entertainment enterprises, Latest News

Business :Zee Q1 net profit dips 95 per cent to Rs 29 crore, Subhash Chandra to be Chairman Emeritus

Zee Entertainment Enterprises on Tuesday posted a consolidated net profit of Rs 29 crore for the quarter ended June, down over 94 per cent from Rs 530 crore in Q1 FY20. ...

National :Subhash Chandra resigns as Zee Entertainment Chairman

Industrialist Subhash Chandra on Monday resigned as the Chairman of Zee Entertainment Enterprises (ZEEL). ...

Business :Global players invest in ZEEL; issue oversubscribed

Major global investors such as GIC, Blackrock and HSBC Global invested in Subhash Chandra-led Essel Group's stake sale of 16.5 per cent in Zee Entertainment Enterprises, sources said. ...