Essel Group may divest up to 50% of promoter share in Zee Entertainment

Essel has appointed Goldman Sachs Securities (India) Ltd as their investment banker

Subhash Chandra, a pioneer in satellite broadcasting in India, is likely to divest a chunk of his stake in Zee Entertainment Enterprises (ZEEL), India’s first home-grown private broadcast network.

The Essel Group, which holds 41.6 per cent in the media and entertainment company, is looking to divest up to 50 per cent of its promoter share (approximately 20.8 per cent of the whole) in the entertainment firm. At today’s value, the promoters' 41.6 per cent stake is worth Rs 175 billion. 

In a statement released to the stock exchanges, the promoters said: “It has been decided to undertake a strategic