Fidelity hikes holding in Zee Telefilms to 5 %

MUMBAI: US-based Fidelity International Ltd. (FIL) has picked up 20,694,046 shares in Zee Telefilms, increasing its holdings in the company to 5.01 per cent.

The acquisition of 0.06 per cent stake was made from the open market on 11 May. Zee Telefilms declared that FIL’s holding was through its direct and indirect subsidiaries and FMR Corp, an American Corporation and its direct and indirect subsidiaries.
 

The announcement posted on NSE indicates that American Corporation and its direct and indirect subsidiaries have acquired 260,496 shares aggregating to 0.06 per cent of the shares.

The announcement also points out that the mode of acquisition was through market purchase.
 
 

The Indian and foreign promoters holding in Zee, as on 31 March 2005, stood at 23 per cent each. While mutual funds had 0.85 per cent, the combined holding of banks, financial institutions and insurance companies stood at 5.62 per cent. Only four per cent of the shares was with the public.