Catalyst sells Zee Entertainment shares worth Rs 267 cr

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.