Zee gets shareholder nod for hike in FII stake limit

The Subhash Chandra-promoted Zee Telefilms Ltd today got the formal nod from shareholders to raise the FII limit in India’s leading media company to 49 per cent at an extra-ordinary general meeting (EGM) held in Mumbai today.

In a communique to the BSE, Zee Telefilms said the approval from shareholders was “unanimous.” Currently, the FII limit stands at 30 per cent of the issued and paid up capital of the company.