MUMBAI: Delgrada Ltd Mauritius, a group company of Zee, has offloaded 11 million equity shares in Zee of Re 1 each. This block deal is reportedly part of a larger strategic disinvestments move.
Also, as part of an internal restructuring programme, Delgrada Ltd has further transferred 11.5 million equity shares of Zee at Re 1 each to another group company, Lazarus Holding Ltd Mauritius.
To get a grip on the debt situation, promoter Subhash Chandra, along with other Zee promoters, had recently offloaded around three per cent of their holdings in Zee Telefilms Ltd to a set of three Foreign Institutional Investors (FIIs) for Rs 1550 million.