GECs
Zee shares placed with CIBC Oppenheimer for Rs 500 million: merchant bankers
Media baron Subhash Chandra’s Zee Telefilms Ltd, which announced last Thursday that its promoters had placed 5 million shares with a U.S.-based institutional investor, will receive around Rs 500 million in the transaction, merchant banking sources point out. CIBC Oppenheimer paid slightly less than Rs 100 a share for its stock holding in Zee, the sources say.
The shares reportedly represent 1.3 per cent of ZTL’s paid-up capital and lowers the promoters’ stake to around 59 per cent. The group promoters had earlier borrowed around Rs 2200 million from ZTL for the Essel group. They had announced that the entire amount would be returned by June 30. However, the Essel group has since then managed to pay back Rs 600 million.
Rajesh Jain – president – corporate finance and strategy, when contacted refused comment on the identity of the FII while maintaining that Zee had raised a total of around Rs 600 million in the current transaction. “The institutional investor who has purchased these shares is a long-term investor in ZTL,” an official release had said. Sources aver that if the official figure of Rs 600 million proves true, then it is likely that the balance of Rs 100 million will come from Zee’s promoters. Head of corporate affairs R.K. Singh has said the money from the transaction would be coming in before the end of the week.
Jain, when queried as to when the balance amount would be returned, said: “We are committed to returning the full amount with interest at the earliest possible time.”
With this placement, the promoters’ holding stands at 59 per cent, foreign institutional investors (FIIs) have 21 cent, financial institutions and mutual funds 9 per cent and the balance is with the public.
The figure of Rs 2200 million is what the Zee Network had reportedly advanced to Essel group investment companies, which was subsequently transferred to cornered bull Ketan Parekh’s investment companies.
CIBC Oppenheimer’s interest in Zee stock could be because at Rs 100 a share it is seen as a good buy, the sources say. There is also the added advantage that a bulk amount of stock was being made available to Oppenheimer which otherwise would have had to be mopped up from the market.
GECs
Sony PAL to air Sankat Mochan Hanuman from May 4 at 9 PM
Mythological series brings Lord Hanuman’s tale of devotion and courage back to TV
MUMBAI: Sony PAL is set to bring back the timeless mythological series Sankat Mochan Hanuman, with its premiere scheduled for May 4 at 9 PM. The show revisits the legendary journey of Lord Hanuman, offering viewers a chance to reconnect with one of Indian mythology’s most revered figures.
Centred on themes of devotion, courage and righteousness, the series traces Hanuman’s unwavering loyalty to Lord Ram and his fearless stand against evil. With its mix of dramatic storytelling and visually rich sequences, the show aims to deliver both entertainment and spiritual resonance, appealing to audiences across age groups.
The narrative unfolds as a larger-than-life saga, positioning Hanuman as the ultimate protector and a symbol of strength and selfless service. His journey, rooted in faith and duty, continues to strike a chord with viewers, making the series as relevant today as ever.
The cast features Gagan Malik as Lord Ram, Debalina Chatterjee as Sita, Nirbhay Wadhwa in the titular role, and Saurav Gurjar as Raavan. Their performances bring depth and authenticity to characters deeply embedded in Indian cultural memory.
With its return to television, the show is positioned as more than just a rerun. It taps into a renewed appetite for mythological storytelling, blending nostalgia with timeless values.
As audiences increasingly seek content that resonates beyond entertainment, ‘Sankat Mochan Hanuman’ offers a familiar yet powerful narrative, reminding viewers that stories of faith and courage never really go out of style.
