Zee oversubscribed as Subhash Chandra sells his 16.5% stake

As media mogul Subhash Chandra finally agrees to give up control over Zee Entertainment by deciding to sell his 16.5 per cent stakes in the company, investors are already flocking in.

The issue has already been oversubscribed nearly three times, Chandra’s son Punit Goenka said in a statement.

“I am overwhelmed by the positive response received from our investors. Glad to share that the book was oversubscribed by approximately 3 times. I am grateful to our lenders and investors for their trust and support. I remain committed to elevating ZEE to a global media & entertainment powerhouse”, Punit Goenka, MD & CEO, ZEE Entertainment Enterprises, said.