Essel Group plans to sell 16.5 percent stake in its flagship company Zee Entertainment Enterprises to financial investors, CNBC-TV18 reported.
The stake sale is expected to take place in the next couple of days via block deals and may help promoters to recover Rs 5,000 crore, they said.
“Deals are almost done. ZEE promoters will sell 16.5 per cent in block deal and repay lenders. They will continue to hold 5 per cent in the entertainment company with Punit (Goenka) continuing as MD and CEO,” one of the persons said.