Top Story

e4m_logo.png

Home >> International >> Article

Promoters dilute their stake by 7 per cent in Zee Telefilms

29-September-2001
Font Size   16
Promoters dilute their stake by 7 per cent in Zee Telefilms

Promoters of Zee Telefilms, Subhash Chandra and Associates and its foreign promoters, have diluted their stake by almost seven per cent last fiscal year in the company to touch 59.61 per cent as against 66.59 per cent as on March 31, 2000. This stake dilution precedes a further offloading of equity in favour of a strategic partner this fiscal year.

Part of the equity dilution by promoters last fiscal year has been done by issuing equity shares on preferential basis to a Foreign Institutional Investor (FII), for paying off the money advanced by ZTL in an attempt to acquire equity stakes in media and entertainment companies last year.

Out of the total issued, subscribed and paid up share capital of Zee Telefilms, 21.03 crore equity shares of one rupee each full paid up were allotted for consideration other than cash against acquisition of investments during 2000-01.

Another significant change in the media major’s equity patter has been meteoric rise in equity held by domestic companies. These entities held only 1.82 per cent stake in Zee Telefilms in 1999-2000, but their stake has gone up to 6.19 per cent last fiscal. Also, the equity stake of individuals has been hiked in ZTL, from 7.14 per cent (2.92 crore shares) in 1999-2000 to 8.86 per cent in the year under review.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

In an exclusive data shared with e4m, Pan Masala/Zarda/Gutkha had the highest jump of 185 per cent in terms of ad volumes in the first 14 matches

Bose, who has a career spanning over two decades, was DNA’s Editor-in-Chief. He has previously been associated with the India Today Group

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compe...