Zee Entertainment: Rakesh Jhunjhunwala buys 50,00,000 shares; BofA bets too | Editorji
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Zee Entertainment: Rakesh Jhunjhunwala buys 50,00,000 shares; BofA bets too

Sep 15, 2021 09:27 IST | By Editorji News Desk

Rakesh Jhunjhunwala bought 50 lakh shares of Zee Entertainment on Tuesday, which calculates to almost half a percent stake in the company.

Jhunjhunwala's stock trading firm Rare Enterprises picked up Zee Entertainment shares at Rs 220.44, which means his total investment was more than Rs 110 crore. This comes on a day when the shares surged 40 percent as Zee Entertainment's shareholders demanded the removal of MD Punit Goenka over corporate governance issues.

Also read/watch: Zee shareholders want to throw out MD & board members

The stock ended the day at Rs 261.70, thus Rakesh's MTM gain for yesterday was Rs 20.5 crore.

BofA Securities Europe also acquired 48.65 lakh equity shares in Zee at Rs 236.2.

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