You are here: Home » Companies » News
Business Standard

Aplab to remove debt-ridden Zee Entertainment from promoter list to public

The company's board is scheduled to meet on March 26 to approve the reclassification process, Aplab said in a regulatory filing.

Press Trust of India  |  New Delhi 

Zee logo
For the quarter ended December 31, 2019, stake of ZEEL in Aplab had fallen to 9.50 per cent to 475,000 shares

Electric equipment maker Aplab on Wednesday said it will reclassify debt-ridden Enterprises Ltd (ZEEL) from promoter category to public category.

The company's board is scheduled to meet on March 26 to approve the reclassification process, Aplab said in a regulatory filing.

For the quarter ended December 31, 2019, stake of in Aplab had fallen to 9.50 per cent to 475,000 shares.

"We hereby inform you that a meeting of the Board of Directors of the Company will be held on Thursday, March 26, 2020 to approve the reclassification process of from Promoter Category to Public Category and other matters," it said.

Presently, 'Promoter & Promoter Group' hold 58.97 per cent stake in Aplab.

Earlier, held 13.21 lakh shares, comprising 26.42 per cent of the paid up capital of Aplab.

ZEEL had acquired these share in 2013.

First Published: Wed, March 18 2020. 12:46 IST
RECOMMENDED FOR YOU