Top Story

e4m_logo.png

Home >> International >> Article

50 lakh ZTL shares sold to pay off liabilities

13-July-2001
Font Size   16
Share
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

Aparna Bhosle, Business Cluster Head - Premium & FTA GEC channels - ‎ZEEL, on its new property, sponsors, investment on acquisition and response to BBC First

In an interview with exchange4media, Ferzad Palia says that most successful brands are not those who spend the most money

As Milind Pathak takes over as Managing Director - Southeast Asia, Httpool, we chat with him on his new role, aspirations and his plans to aggressively penetrate the operations of the group in the Southeast Asian market

The group released the Little Hearts online-only campaign, #BreakSomeHearts, early this year and is on the path to make many more of its brands available on the digital platform

As Milind Pathak takes over as Managing Director - Southeast Asia, Httpool, we chat with him on his new role, aspirations and his plans to aggressively penetrate the operations of the group in the Sou...

The group released the Little Hearts online-only campaign, #BreakSomeHearts, early this year and is on the path to make many more of its brands available on the digital platform

Aroon Purie, the India Today Group Chairman and Editor-in-Chief today appointed his daughter Kallie Purie as the Vice Chairperson of the group