The floor price for the sale of these 7 million shares is ₹570 apiece and is expected to bring in over ₹400 crore for Verlinvest Asia. The floor price is at a discount of nearly 8% to Friday s closing price of ₹617.55 on the NSE. The shares ended over 3% higher on Friday.
Zee Entertainment has alleged that Star India has not acted in accordance with the agreement between them over the sharing of the TV broadcast rights of ICC cricket matches and has sought a refund of Rs 68.54 crore from the Walt Disney-owned firm.
Sula Vineyards shares dropped 8% as Verlinvest reportedly offloaded shares in a block deal. The vine maker is based in Nashik. Kotak Mahindra Capital acted as the broker for the deal. Other FII investors in the company include Jupiter India Fund, Goldman Sachs, and Abu Dhabi Investment Authority.