RIL, said experts, would be able to consolidate its presence in the OTT and broadcasting space, with an investment in ZEEL
The move came following fears of a likely invocation of pledged shares by lenders on Monday after a steep fall in the stock price of Zee Entertainment Enterprises and DishTV
Of the 3 infra assets on the block, one is nearing completion, and the rest will be done in the next 3 to 6 months
On Friday, the stocks of Essel Group-promoted companies - ZEEL, and Dish TV found themselves in the freefall after the news report was published
MFs have high exposure on debt side; Nearly Rs 50,000 cr public money at stake
News reports said that the company was in talks with firms including Sony Pictures to sell half of their holding in the entity.
Dena Bank, ICICI Securities, ICICI Prudential, Minda Inds, Nilkamal, Shankara Building Products, BASF India and Tata Elxsi were among 22 stocks from the S&P BSE 500 index hitting their respectively.
Launched in February 2018, ZEE5 had 56.3 million monthly active users, according to Zee's quarterly update, with an average watch time of 31 minutes a day
The stock was up 4 per cent to Rs 476 on Wednesday, extending its Tuesday's 2 per cent gain on the BSE.
The company indicated that it would continue to grow its advertising revenues faster than the industry
Deal structure, choice of partner coming into the company are key factors
Zee has already put together an aggressive strategy to take on its rival Reliance Jio
We keep doing reviews of the business within the family and in the past 2-4 months, several approaches have been made (to buy a stake in Zee) and discussions have been held
Essel has decided to appoint Goldman Sachs Securities (India) Ltd as their investment banker and US and European based LionTree as an international strategic advisor for this exercise
The platform will offer immersive content, satisfying all five senses
Despite pressure, margins much ahead of estimates
Firm, however, has reiterated margins will remain steady near the 30%-mark despite OTT investments
As the deadline for implementing TRAI's new tariff order approaches, the entertainment network has revealed plans to launch multiple channel bouquets as required by the regulation
Attractive valuation makes the risk-reward favourable
Kumar's mandate includes taking steps to build a dynamic workplace and attract talent, enable innovative people practices, and support the growing workforce needs