ZEEL said: “Pursuant to this acquisition, the shareholding of the acquirer (OFI Global China Fund LLC) along with persons acting in concert with it has increased by 2% of the total shareholding of the company from the last disclosure made for the acquisition on September 9, 2019.”
ZEEL promoter entity Cyquator Media Services has sold 79,912,915 shares of the media company while the remaining shares have been sold off-market.
Regulatory filing stated: “Out of aggregate quantity of 79,912,915 shares sold, 13,749,266 shares have been sold off-market on November 25, 2019, to OFI Global China Fund LLC and balance shares have been sold on the market by Cyquator and/ or the Lenders.”
As reported, ZEEL promoters had raised Rs 4343.18 crore through the sale of 14.28 crore shares at an average price of Rs 304 per share. In all, the promoters sold a 15.7% stake through block deals on the NSE.