Chandra’s comments on Zee stake hike faces Sebi scrutiny: Report

Zee founder Subhash Chandra’s recent comments that the promoters plan to raise their stake initially by an additional 5% and eventually to 26% seems to have attracted the market regulator, the Securities and Exchange Board of India’s (Sebi) scrutiny.

According to a report by Moneycontrol, Sebi is examining whether the statements breach the regulator’s disclosure norms that mandates that material events should be disclosed be shareholders first.

On Monday, Chandra said in an interview that the promoters are working towards raising their stake from the current 4% by another 5% soon and eventually by 26%.