Business Standard

The IL&FS soap opera has now created more drama; this time for Zee

The implosion of the highly rated lender raised financing costs for everyone who had borrowed short-term funds to invest in long-term assets such as roads, power stations, waste-management plants

Photo: Shutterstock

Photo: Shutterstock

Andy Mukherjee | Bloomberg
The opportunity to own the largest broadcaster in a consumer market of 1.3 billion people doesn’t arrive all that often; even more rarely does it come after a single-day 26 per cent rout in the stock.

The special situation has arisen because of Indian infrastructure financier-operator IL&FS Group’s sudden $12.8 billion bankruptcy. Analysts who believed the tremors would reach other shadow-banking entities like Dewan Housing Finance Ltd. were half right. Yes, Dewan’s loan disbursements fell 95 per cent from a year earlier in the December quarter amid pressure on the mortgage lender to deleverage. But the shock waves have now

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 29 2019 | 8:04 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to