ICICI MF, HDFC MF get dues from Essel

Our Bureau New Delhi | Updated on November 26, 2019 Published on November 26, 2019


ICICI Prudential MF (₹270 crore) and HDFC MF (₹167 crore) on Tuesday received total repayment of principal and interest from Essel Group (EG), leaving them with zero exposure to EG. This repayment follows the sale of shareholding by the promoters of Zee Entertainment Enterprises Ltd (ZEEL). Subsequently, as on date, none of the schemes of I-Pru have any investments in debt instruments issued by group firms of ZEEL, I-Pru said. However, HDFC MF said that the company holds certain NCDs of the EG that are secured by a pledge of listed equity shares. The carrying value of these NCDs as at September 30 was ₹275.63 crore, it said.

Published on November 26, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.