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.
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.