Thursday 3 October 2019

Zee Entertainment Jumps 9% After Lenders Extend Repayment Deadline

Shares of Zee Entertainment Enterprises surged 9 percent on BSE on October 3 after the company said that the lenders had agreed to give it another six months to repay debt.

In an interview to CNBC-TV18, Punit Goenka, chief executive officer, on October 1 said, "Zee is working with the lenders with all options to explore and find a solution on the stake sale and the resolution stake sale that we had proposed of another 10 percent." Goenka said the amount due to the Indian lenders was around Rs 5,000 crore.

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