Zee Entertainment Finalized Strategy to Consolidate its Digital Businesses

Shital Jibhe / 08 Jun 2017

Zee Entertainment Finalized Strategy to Consolidate its Digital Businesses

The board of directors of the company approved acquisition of balance 49% equity stake in India Webportal Private Limited (IWPL), 51% subsidiary of the company, from its existing shareholders for INR equivalent of USD 30.7 million.

In order to consolidate its Digital Businesses, Zee Entertainment Enterprises Limited has come up with the strategy.
 
The board of directors of the company approved acquisition of balance 49% equity stake in India Webportal Private Limited (IWPL), 51% subsidiary of the company, from its existing shareholders for INR equivalent of USD 30.7 million.
 
12.5% equity stake in Tagos Design Innovations Pvt. Ltd. Bangalore for INR equivalent of USD 2.5 million was also approved by Zee Entertainment Enterprises.
 
Following is the shareholding pattern of IWPL:
 
Name   of shareholder   Number   of shares   %   of holdings
Zee Entertainment Enterprise Limited   126990000   51
MMC Investments Holding company II   Limited   109560000   44
Ashok Kurien   12450000   5
Total   249000000   100

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