India: Subhash Chandra to sell another 16.5% stake in ZEEL to repay debt

India: Subhash Chandra to sell another 16.5% stake in ZEEL to repay debt

Subhash Chandra. Photo: Livemint

Cash-strapped media mogul Subhash Chandra of the Essel Group is planning to sell a further 16.5% stake in his flagship company ZEE Entertainment Enterprises Limited (ZEEL) to meet repayment obligations, the company said Wednesday. The company added that part of this new stake sale – about 2.3% – will be sold to OFI Global China Fund, LLC and or its affiliates.

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