Zee shareholders back promoter stake hike to 24%
The shareholders of Zee Entertainment on Friday greenlit a Rs 3,143.52 crore crucial fundraising proposal by the company that will potentially boost promoter stake in the media firm to nearly 24% from 3.99% currently. The move is significant since the Subhash-Chandra founded firm has seen significant volatility on account of low promoter stake. Sector analysts say that the stake hike will remove significant overhang on the firm and strengthen alignment and corporate backing.
