Latest news with #ZeeBusiness
India.com
5 days ago
- Business
- India.com
IDBI Bank Disinvestment: Strategic Sale Likely To Be Completed By October 2025, Say Sources
New Delhi: Disinvestment in state-run IDBI Bank is set to be completed by October, with the process of financial bids and the lender's announcements in the same month, sources told Zee Business. Earlier, the government had said that the bank's deal is expected to be concluded within the current financial year. Public sector banks are expected to raise funds to the tune of Rs 40,000-45,000 crore through the qualified institutional placement (QIP) route this year, including State Bank of India's Rs 20,000 crore, said the sources. They said that SBI's QIP will be launched soon, with the government's approval already in place. Also, Punjab & Sind Bank, Indian Overseas Bank (IOB), Central Bank of India, and UCO Bank will offload stakes through the offer for sale (OFS) route. The Department of Financial Services (DFS) has also given the nod to Life Insurance Corporation's OFS. Part of a broader disinvestment strategy, the LIC OFS is set to promote retail participation while unlocking value in the PSU insurance major. Bank of Maharashtra will also launch a QIP during the year, in order to meet the minimum public shareholding requirement, according to the sources. As per rules, at least 25 per cent of a listed company's total shares must be held by public shareholders. In another significant development, the deadline for such companies to meet the minimum public shareholding norms may be extended from 2026 to 2027. The proposed offloading of government stake in IDBI Bank has been delayed several times over the past three years. Currently, Government of India and LIC jointly own 94.71 per cent of IDBI Bank. --By Tarun Sharma (The Story Originally Appeared In
India.com
03-07-2025
- Business
- India.com
Zee exclusive: Dr Subhash Chandra unveils mega Rs 2,200-Crore investment plan; Promoter stake to rise above 18%
Zee Entertainment Enterprises Ltd (ZEEL) Founder and Chairman Emeritus Dr Subhash Chandra with Zee Business Managing Editor Anil Singhvi Dr. Subhash Chandra Interview: In a significant update boosting shareholders' confidence, Zee Entertainment Enterprises Ltd (ZEEL) Founder and Chairman Emeritus Dr Subhash Chandra gave a special interview to Zee Business where he told Zee Business Managing Editor Anil Singhvi that Zee Board has approved a Rs 2,237 crore promoter investment plan. During the interview with Anil Singhvi, Dr Chandra also revealed that the promoter stake will be taken beyond 18 per cent. Notably, ZEEL's promoter group shareholding stood at 3.99 per cent, as of March 31. In the special interview conducted by Zee Business, Dr Subhash Chandra discussed the company's future mega plans and also said that the promoter investment is proof of his unwavering commitment to the company and its shareholders. Reminiscing past experiences, Dr Chandra recalled the period when he first failed to fulfil his commitment to the financial markets in 2019. The ZEEL Chairman also mentioned about a period when he sold 44 per cent stake in ZEE to pay off debt of over Rs 40,000 crore and in the process, the promoters' stake in ZEE was reduced to just 4 per cent. Admitting that the other troubles, especially the mistakes in the infrastructure business also affected ZEE Entertainment, he said that 'the infrastructure business was a big mistake, which was handed over to the wrong people'. Most importantly, the ZEEL Founder also mentioned about the fact that after paying off the debt, he is now putting the recovery amount back into the company. 1. What is the whole deal? The promoter group will invest a total of Rs 22,37,44,48,800 in the company. After this investment, the total stake of the promoters in the company will increase to 18.39 per cent. 2. Why buy at a higher price than the market price? Dr Chandra revealed that the most positive thing about this deal is that the promoters are buying shares at a price of Rs 132 per warrant, which is more than the regulatory price (Rs 128.58). According to Dr Chandra, this is the biggest proof of how much confidence they have in the future of the company. How will shareholders get 'double' benefit? In the interview, Dr Chandra said that the increased promoter holding will benefit the shareholders in many ways. 1. Restoration of trust Dr Chandra said that the shareholders were uncomfortable with the promoter's holding of only a 4 per cent stake. Minority shareholders also believe that no one other than the promoters can run a large and complex business like ZEE, he said. Increasing the promoters' stake will strengthen investors' confidence, Dr Chandra emphasised. 2. Zee's growth will gain momentum Dr Chandra said that the fund of Rs 2,237 crore will act as a 'booster dose' for the company. This money will be used mainly for growth in content and technology, strengthening the balance sheet and rapidly implementing the strategic growth plan, Dr Chandra said, adding that it will put the company in a better position to compete with big competitors like Reliance and Disney. Roadmap for the future: What's next? Dr Chandra said that there is still money to be paid in some accounts, which is being paid on the due date. Also, money for infrastructure is also pending from the state governments, which was stuck for 4-5 years, said Dr Chandra. ZEEL share price rises On Thursday, the stock of ZEEL was trading at Rs 144 with a gain of about 2 per cent. In the last 1 month, the stock has gained 10 per cent. In the last 6 months, the stock has seen a growth of 14 per cent. (Disclaimer: and Zee Media are both part of the Zee Group. Consult your advisor before making any investment.)
India.com
03-07-2025
- Business
- India.com
Dr Subhash Chandra unveils mega Rs 2,200-Crore investment plan; Promoter stake to rise above 18%
Zee Entertainment Enterprises Ltd (ZEEL) Founder and Chairman Emeritus Dr Subhash Chandra with Zee Business Managing Editor Anil Singhvi Dr. Subhash Chandra Interview: In a significant update boosting shareholders' confidence, Zee Entertainment Enterprises Ltd (ZEEL) Founder and Chairman Emeritus Dr Subhash Chandra gave a special interview to Zee Business where he told Zee Business Managing Editor Anil Singhvi that Zee Board has approved a Rs 2,237 crore promoter investment plan. During the interview with Anil Singhvi, Dr Chandra also revealed that the promoter stake will be taken beyond 18 per cent. Notably, ZEEL's promoter group shareholding stood at 3.99 per cent, as of March 31. In the special interview conducted by Zee Business, Dr Subhash Chandra discussed the company's future mega plans and also said that the promoter investment is proof of his unwavering commitment to the company and its shareholders. Reminiscing past experiences, Dr Chandra recalled the period when he first failed to fulfil his commitment to the financial markets in 2019. The ZEEL Chairman also mentioned about a period when he sold 44 per cent stake in ZEE to pay off debt of over Rs 40,000 crore and in the process, the promoters' stake in ZEE was reduced to just 4 per cent. Admitting that the other troubles, especially the mistakes in the infrastructure business also affected ZEE Entertainment, he said that 'the infrastructure business was a big mistake, which was handed over to the wrong people'. Most importantly, the ZEEL Founder also mentioned about the fact that after paying off the debt, he is now putting the recovery amount back into the company. 1. What is the whole deal? The promoter group will invest a total of Rs 22,37,44,48,800 in the company. After this investment, the total stake of the promoters in the company will increase to 18.39 per cent. 2. Why buy at a higher price than the market price? Dr Chandra revealed that the most positive thing about this deal is that the promoters are buying shares at a price of Rs 132 per warrant, which is more than the regulatory price (Rs 128.58). According to Dr Chandra, this is the biggest proof of how much confidence they have in the future of the company. How will shareholders get 'double' benefit? In the interview, Dr Chandra said that the increased promoter holding will benefit the shareholders in many ways. 1. Restoration of trust Dr Chandra said that the shareholders were uncomfortable with the promoter's holding of only a 4 per cent stake. Minority shareholders also believe that no one other than the promoters can run a large and complex business like ZEE, he said. Increasing the promoters' stake will strengthen investors' confidence, Dr Chandra emphasised. 2. Zee's growth will gain momentum Dr Chandra said that the fund of Rs 2,237 crore will act as a 'booster dose' for the company. This money will be used mainly for growth in content and technology, strengthening the balance sheet and rapidly implementing the strategic growth plan, Dr Chandra said, adding that it will put the company in a better position to compete with big competitors like Reliance and Disney. Roadmap for the future: What's next? Dr Chandra said that there is still money to be paid in some accounts, which is being paid on the due date. Also, money for infrastructure is also pending from the state governments, which was stuck for 4-5 years, said Dr Chandra. ZEEL share price rises On Thursday, the stock of ZEEL was trading at Rs 144 with a gain of about 2 per cent. In the last 1 month, the stock has gained 10 per cent. In the last 6 months, the stock has seen a growth of 14 per cent. (Disclaimer: and Zee Media are both part of the Zee Group. Consult your advisor before making any investment.)
Reuters
17-06-2025
- Business
- Reuters
India regulator bars former IIFL executive from markets over alleged stock manipulation
June 17 (Reuters) - India's markets regulator on Tuesday barred former director at IIFL Securities Sanjiv Bhasin from the securities markets for allegedly making misleading stock recommendations on television and social media platforms. The Securities and Exchange Board of India (SEBI) in an interim order alleged that Bhasin bought shares and then promoted those stocks on business news channels like Zee Business and ET Now, as well as on IIFL's Telegram channel. After his public recommendations drove up the stock prices, he is said to have sold his holdings for profit, according to SEBI. A message sent to Bhasin, whose contract with IIFL ended in June 2024, seeking comment on the SEBI order was not immediately answered. IIFL Securities also did not immediately respond to Reuters' request for comment. SEBI said that it had investigated Bhasin's stock recommendations and trading activity from January 01, 2020, to June 12, 2024. The regulator also ordered to impound 113.7 million rupees($1.3 million) of "unlawful" gains from Bhasin and others who facilitated his activities. ($1 = 86.3010 Indian rupees)
Yahoo
17-06-2025
- Business
- Yahoo
India regulator bars former IIFL executive from markets over alleged stock manipulation
(Reuters) -India's markets regulator on Tuesday barred former director at IIFL Securities Sanjiv Bhasin from the securities markets for allegedly making misleading stock recommendations on television and social media platforms. The Securities and Exchange Board of India (SEBI) in an interim order alleged that Bhasin bought shares and then promoted those stocks on business news channels like Zee Business and ET Now, as well as on IIFL's Telegram channel. After his public recommendations drove up the stock prices, he is said to have sold his holdings for profit, according to SEBI. A message sent to Bhasin, whose contract with IIFL ended in June 2024, seeking comment on the SEBI order was not immediately answered. IIFL Securities also did not immediately respond to Reuters' request for comment. SEBI said that it had investigated Bhasin's stock recommendations and trading activity from January 01, 2020, to June 12, 2024. The regulator also ordered to impound 113.7 million rupees($1.3 million) of "unlawful" gains from Bhasin and others who facilitated his activities. ($1 = 86.3010 Indian rupees) Sign in to access your portfolio
