Top Story

e4m_logo.png

Home >> International >> Article

Subhash Chandra sells 2% in Zee to FIIs

05-January-2002
Font Size   16
Share
Subhash Chandra sells 2% in Zee to FIIs

The chairman of Zee Telefilms , Subhash Chandra has diluted his stake in the company by 2 per cent for a total consideration of Rs 97 crore. Mr Chandra sold a total of 85,00,000 shares at Rs 115 per share.

According to market sources, the block deal was rumoured to be between Kotak and Credit Lyonnaise on behalf of a buyer, which is said to be a US-based FII. The largest chunk is however reported to have been bought by Warburg Pincus with a smaller tranche being purchased by other investors. Mr Chandra’s stake in Zee Telefilms now stands at around 54 per cent.

Last year, Mr Chandra had announced that Zee Telefilms was looking to dilute a 26 per cent stake in favour of a strategic partner. Interestingly, it was Warburg Pincus that was appointed to be advisor for this particular deal.

It was also widely speculated that this would be in favour of AOL-Time Warner. Though no decision has emerged since then, Zee has tied up with Turner International to jointly distribute their network in the country.

On the BSE, Zee shares closed down Rs 2.10 at Rs 116.60 touching a high of Rs 126.90 and low of Rs 114.50 on a volume of 2.23 crore shares, while on the NSE, the shares closed up Rs 2.15 at Rs 120.30 on a volume of 120.30 crore shares.

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