 "Illustration by Binay Sinha")
Last week, the share price of Essel group companies fell sharply on worries about the process of stake sale by the group being delayed — something the lenders needed yesterday. The share price of Zee Entertainment Enterprises Ltd, the flagship company of the group, crashed after Reliance Mutual Fund reportedly sold its entire holding, worth around Rs 400 crore, in the market.
If the promoters are not able to pay back the bank loan by September, the lenders may sell the shares of the group, pledged to them. However, the fund houses that have exposure to the group are fast losing
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