ZEEL trades 3% higher after promoter group sells 14cr shares in bulk deal

The promoters included Cyquator Media Services Private Limited, ESSEL Corporate LLP, and ESSEL Media Ventures Limited, who sold their respective stake in the company.

Nov 22, 2019 05:11 IST India Infoline News Service

Amit Goenka, CEO - International Broadcast Business, ZEEL

The promoter group of Zee Entertainment Enterprises sold more than 14cr shares of the company in bulk deals on November 21.

The promoters included Cyquator Media Services Private Limited, ESSEL Corporate LLP, and ESSEL Media Ventures Limited, who sold their respective stake in the company.

Cyquator Media Services Private Limited sold 6,16,26,543 shares, ESSEL Corporate LLP sold 1,18,38,350 shares, and ESSEL Media Ventures Limited sold 6,94,03,106 shares in the company at an average price of Rs304/share.

Meanwhile, Essel Group chairman Subhash Chandra said he would sell 16.5% stake in the company to investors.

Stock View:

Zee Entertainment Enterprises Ltd is currently trading at Rs355.55 up by Rs10.3 or 2.98% from its previous closing of Rs345.25 on the BSE.


The scrip opened at Rs347 and has touched a high and low of Rs360.40 and Rs334.35 respectively. So far 3,13,11,605 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs33,160.68cr.

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