Zee Entertainment share price tanks more than 25%: Mutual funds loose more than ₹1900 crore in a day
Zee Entertainment Enterprises share price saw sharp decline of more than 25% on the NSE and the BSE, post Sony ended its merger agreement and demanded $90 million in termination fee. As the stock erased more than ₹5000 Crore market-cap, all investors including Mutual funds were at the receiving end.
The Mutual Funds are likely to have seen wealth erode by more than ₹1900 crore As per the shareholding pattern data available on the BSE , at the end of December'2023, 29 mutual Funds were holding shares in the Zee Entertainment Enterprises. The total mutual fund shareholding percentage stood at 32.49% as the mutual funds held 31,20,70,141 shares in the Zee Entertainment Enterprises.
Overall while 7 promoters were holding 3.99% stake in Zee Entertainment Enterprises, public share holding stood at 96.01%. Also Read- Zee share price tanks 25%, erases over ₹5k crore mcap as Sony calls off merger; brokerages downgrade stock The major mutual fund share holders included ICICI Prudential Value Discovery Fund that was holding 7.25% stake in Zee Entertainment Enterprises.
Other prominent mutual funds were Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund that held 6.12% stake while HDFC Mutual Fund - HDFC Mid-Cap Opportunities Fund's share holding stood at 5.2% Among others were Tata Large And Mid-Cap Fund, Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Arbitrage Fund, Kotak Equity Arbitrage Fund holding 2% or more stakes. About 51 Mutual Funds bought and 33 Mutual Funds sold Zee Entertainment Enterprises Ltd.
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