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Zee Entertainment Enterprises acquires 100% stake in IWPL

Zee Entertainment Enterprises announced on Monday that the company’s board of directors have granted an approval for acquisition of 100% equity stake in India Webportal Private Limited (IWPL).

The company has already completed the requisite formalities and has acquired the balance 49% equity stake in IWPL comprising of 12.2 crore equity shares.

Now, after the acquisition, IWPL has become a wholly-owned subsidiary of the company effective from July 22, 2017.

The stock was trading at Rs 555.85, up by 0.25% on BSE at 1012 hours. It opened at Rs 558 per share. It touched an intraday high of Rs 561 and low of Rs 555.45. The stock attracted a total traded volume of 7,38,321 and traded value of 4,114.81 lakh on NSE at 1010 hours.

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Zee Entertainment Enterprises Ltd is currently trading at Rs 549.75, down by Rs 4.7 or 0.85% from its previous closing of Rs 554.45 on the BSE.

The scrip opened at Rs 558 and has touched a high and low of Rs 561 and Rs 548 respectively. So far 1838447(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 53249.38 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 588.8 on 03-Oct-2016 and a 52 week low of Rs 428.5 on 23-Dec-2016. Last one week high and low of the scrip stood at Rs 556 and Rs 515.75 respectively.

The promoters holding in the company stood at 43.07 % while Institutions and Non-Institutions held 50.37 % and 6.56 % respectively.