Zee Entertainment to buy back shares worth up to Rs 600 crore
Mumbai: Zee Entertainment Enterprises’s board approved a buyback of up to 65.9 million shares, representing 6.86% of the company’s paid-up equity share capital, at ₹91 each, aggregating up to ₹600 crore, the company said in a regulatory filing on Thursday. The company announced the buyback with a view to enhancing shareholder returns and strengthening investor confidence. Its shares closed at ₹73.50 on the BSE Thursday, down 38% from their 52-week high of ₹118.40 recorded on June 23.
