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19-Jul2017

Zee Entertainment Enterprises surges on acquiring balance 51% stake in FBW

Zee Entertainment Enterprises is currently trading at Rs. 544.25, up by 14.15 points or 2.67% from its previous closing of Rs. 530.10 on the BSE.

The scrip opened at Rs. 530.20 and has touched a high and low of Rs. 544.55 and Rs. 529.00 respectively. So far 49039 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 588.80 on 03-Oct-2016 and a 52 week low of Rs. 428.50 on 23-Dec-2016.

Last one week high and low of the scrip stood at Rs. 544.55 and Rs. 510.00 respectively. The current market cap of the company is Rs. 52128.35 crore.

The promoters holding in the company stood at 43.07%, while Institutions and Non-Institutions held 50.38% and 6.56% respectively.

Zee Entertainment Enterprises (ZEEL) has acquired the remaining 51% stake in Fly By Wire (FBW). Consequent to the receipt of approval from Ministry of Civil Aviation and compliance of other requisite formalities, the company has acquired the balance 51% stake in FBW comprising of 10,20,000 equity shares of Rs 10 each.

In March last year, the company had announced that it will fully acquire charter plane services firm FBW for a total consideration of Rs 61.25 crore. In May, ZEEL acquired 49% stake in FBW.

ZEEL is one of India's leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.



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