Cautious road ahead for Zee Entertainment

Subhash Chandra’s son Punit Goenka, who is at the helm of affairs at Zee Entertainment Enterprises (ZEEL), is expected to steer the company through troubled waters. With the promoter stake of ZEEL going down from 44% to 5% recently, the media company has been in the public eye, particularly after the resultant departure of its founder Subhash Chandra from the company’s board as chairman in line with Sebi guidelines. Chandra continues to be non-executive director on the board. These developments are after a clutch of investors helped the promoters pay debt to the tune of Rs 11,000 crore last month.

This has now placed the company chiefly in the hands of Chandra’s son Punit Goenka, as it transitions into an institutionally managed one. Goenka continues as the MD and CEO at ZEEL.