Other major institutional buyers included Aditya Birla Sun Life Co, Bajaj Allianz General Insurance Company, Rajasthan Global Securities, and Societe Generale
Despite revenue growth of 13 percent in FY23, falling short of the expected 20 percent, the management expects EBITDA margin to recover to 11 percent by the end of H1FY24
Around 3.51 percent stake or 3.73 million shares will be sold in a block deal, the company announced. According to Friday s close, the stake sale will be valued at Rs 535 crore.
Zee reported a loss of Rs 196 crore for the quarter ended in March 2023 versus a net profit of Rs 182 crore in the year-ago period. Its total income fell 10 percent year-on-year to Rs 2,126 crore from Rs 2,360 crore in the same period last fiscal.