Zee Entertainment shares zoom 18.5 per cent on promoters stake sale

NEW DELHI: Shares of Zee Entertainment Enterprises on Thursday zoomed 18.5 per cent after Essel Group said it is planning to sell 16.5 per cent stake in its flagship firm to meet its loan repayment obligations.

The scrip advanced 14.99 per cent to Rs 353.20 on the BSE. At the NSE, it jumped 18.56 per cent to Rs 364.Subhash Chandra-led cash-starved Essel Group on Wednesday said it is planning to sell a 16.5 per cent stake in its flagship ZEE Entertainment Enterprises to financial creditors to meet its loan repayment obligations.