EntMnt Xclusive Catalyst sells Zee Entertainment shares worth Rs 267 cr

adithya

adithya

Core Member
Catalyst Trusteeship Ltd sold Zee Entertainment shares worth over Rs 267 crore through open market transactions Friday, according to market data.

Catalyst offloaded 74 lakh shares amounting to 0.77 per cent stake in the entertainment firm, bulk deal data available with NSE showed.


The shares were sold at an average price of Rs 361.42 apiece, valuing the transaction at Rs 267.45 crore.

However, the buyer of the shares could not be immediately ascertained.

Catalyst Trusteeship is Pune-based private company and operates in the areas of debenture trusteeship and management of private provident funds.

Last week, shares of Zee group companies came under massive selling pressure following reports of its alleged links to a firm being probed for suspect demonetisation deposits.

The shares bounced back after Zee group denied the allegations.

Essel Group chairman Subhash Chandra had last week apologised to lenders and said his company is in a financial mess, which he blamed on aggressive bets in the infrastructure sector, among other factors.

Shares of Zee Entertainment closed at Rs 352.60, down 7.26 per cent, on NSE Friday.

Catalyst sells Zee Entertainment shares worth Rs 267 cr | Business Standard News
 
दीपक शुक्ला

दीपक शुक्ला

Frequent Flyer
May be only Zee can save Essel Group.. Zee Entertainment operates in a highly competitive TV broadcasting space and hence continued popularity, reflected in good TV ratings, is important. A pickup in advertising growth rates is dependent on a broader economic upturn along with its network performance vis-à-vis competitors. Content investments in movies and digital will warrant pick up in revenue growth. Faster-than-expected rise in content costs could impact earnings.
 
दीपक शुक्ला

दीपक शुक्ला

Frequent Flyer
Aviral Sangal said:
They already are defaulter

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Merger between Videocon D2H & Dishtv was Bad decision. both are also in court. When the merger between DTH arms of Videocon and Essel Group took place, it led to a legal dispute that started after a company called Nityank Infrapower and Multiventures approached NCLT (National Company Law Tribunal) to prevent allotment of shares to Videocon Group company Domebell.
When the merger between DTH arms of Videocon and Essel Group took place, it led to a legal dispute that started after a company called Nityank Infrapower and Multiventures approached NCLT (National Company Law Tribunal) to prevent allotment of shares to Videocon Group company Domebell. Videocon firms approached the Delhi high court in August last year and claimed that Nityank belongs to the Essel group and the company had unlawfully invoked a pledge on Videocon D2H shares. These were the shares that were placed as security with the Essel Group in case the merger with Dish TV were to fall through.
Matters became worse for the Essel Group when Serious Fraud Investigation Office (SFIO) started its investigation on companies spacially Dishtv that made huge cash deposits in the aftermath of demonetisation.
 
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