The Board of Zee Entertainment will be interacting with investors on a conference call on Monday, March 4th, 2024, at 8:00 PM. The objective of this call is for the Board to interact with the investors, discuss key topics and address any concerns.
The large MF investors in ZEEL include HSBC Value Fund, Tata Large Cap and Mid-cap Fund, Aditya Birla Sun Life Trustee, Aditya Birla Sun Life Arbitrage Fund, Kotak Equity Arbitrage Fund, HDFC Mutual Fund – HDFC Mid-Cap Opportunities Fund, Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund, ICICI Prudential Value Discovery Fund.
HDFC Life Insurance Company and SBI Life Insurance and Life Insurance Company of India are the large insurance who hold a substantial stake.
On Feb 29, Sony Group has reportedly withdrawn the $10 billion merger agreement with Zee from a local company court, marking the definitive end of the proposed merger.
According to Bloomberg, the Japanese entertainment company made multiple filings to India’s National Company Law Tribunal(NCLT) on Thursday to pull out of the merger agreement with Zee.
While reports of a revived Zee-Sony merger surfaced a fortnight back, reportedly leading to the company’s stock rallying in the markets, Zee Entertainment issued a clarification later the same evening that the firm was not involved in any negotiations with relation to the collapsed Sony merger deal.
Meanwhile stakeholders are anticipating a critical NCLT hearing on March 12. NCLT has issued a notice to Sony Pictures Networks earlier this month in response to an application filed by Zee Entertainment Enterprises. Zee’s application seeks the implementation of the merger with Sony that was announced back in December 2022.