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Oppenheimer bought 50 lakh shares from Subash Chandra

15-August-2001
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Oppenheimer bought 50 lakh shares from Subash Chandra

The one-month-long mystery over the identity of the buyer of Zee Telefilms’ (ZTL) 50 lakh shares from Subash Chandra, is over. The buyer is the US-based foreign institutional investor Oppenheimer.

Oppenheimer had bought these shares at an average price of Rs 100 per share through a leading domestic stock broking firm. Oppenheimer is a Boston-based fund and invests in India through its emerging market fund.

Essel group had last month said ZTL promoters placed 50 lakh personal shares with a US-based institutional investor to repay their liabilities to the tune of Rs 220 crores to Zee Tele. The identity of the buyer was however, not revealed then.

Zee Telefilms, however, declined to divulge the name of the institutional investor with whom the promoters has placed the shares.

Even as the mystery over the buyer of one per cent stake in the company is being talked about in the market, on Tuesday, ZTL stock saw huge volumes both on the National Stock Exchange (NSE) and on The Stock Exchange, Mumbai (BSE).

On NSE, a total of 1.548 crore shares were traded compared to just 34.24 lakh shares on Monday. The stock was up 12.65 per cent to close at Rs 101.50. On BSE too, 1.159 crore shares were traded and the stock closed at Rs 101.55, up 12.71 per cent.

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