Chandra, family to recover ₹1,300 cr in one year to fund investment in ZEEL

Essel Group promoters expect to recover dues and invest Rs 2,237 crore through convertible warrants, potentially increasing stake in ZEEL to 18.39 per cent

The promoters of Zee Entertainment Enterprises Ltd (ZEEL), Subhash Chandra and his family, are expected to recover through the Essel group around ₹1,300 crore in one year from various parties who owe money to them, according to a source close to the family office.

 

The source added that ZEEL’s promoters, who are also the founders of the company, have already received confirmations from various parties indebted to them. So far, the promoters have recovered ₹800 crore, mainly from three sources: a municipality corporation in Maharashtra, a public sector unit in Haryana, and another public sector unit in Madhya Pradesh. The