Top Story

e4m_logo.png

Home >> International >> Article

50 lakh ZTL shares sold to pay off liabilities

13-July-2001
Font Size   16
50 lakh ZTL shares sold to pay off liabilities

Subhash Chandra has sold 50 lakh shares in Zee Telefilms (ZTL) to a US-based institutional investor, to pay back his outstanding liabilities with the group flagship which stand at around Rs 160 crores. The shares represent 1.3 per cent of ZTL’s paid-up capital and lower the promoters’ stake to around 59 per cent.

The group promoters had earlier raised around Rs 220 crores from ZTL and had announced that the entire amount would be returned by June 30. However, they could only pay back Rs 60 crores, the group has said.

Though the promoter group declined to reveal the price at which the deal was struck, market sources said the sale was through a block deal early morning on the Bombay Stock Exchange at Rs 99.80 a share, close to its opening price of Rs 98.50. The stock subsequently jumped 10.05 per cent to close at Rs 108.40.

Tags

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

Strategized and executed by WATConsult, the campaign portrays different personalities through different shades of make-up.

At the recent unveiling of the Pitch Madison Advertising Report 2018, industry leaders from Dominos, Titan Watches, Nature’s Basket and Big Bazaar drew their conceptual learnings on factors that build...

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.