Punit Goenka acquired 0.29 per cent shares of Zee Entertainment Enterprises (ZEEL) through his wife and son on March 5, 2025.
As per stock exchange disclosure, the ZEEL Chief Executive Officer’s wife Shreyasi Goenka bought 13,83,500 securities worth around ₹13.46 crore (0.14 per cent of shareholding), while Goenka’s son Udayan Goenka bought 14,15,450 securities also worth around ₹ 13.46 crore (0.15 per cent of shareholding). Earlier, the family had less than 4 per cent shares in the company.
Responding to the recent acquisition, one of the proxy firms told businessline that the share buying is “inconsequential.”
“If the family held 4 per cent of shares before, it now holds 4.29 per cent. That doesn’t change anything. They still had a voice in the discussions even with 4 per cent shares. The company has said that profits will go up but so far, the stock has not even reached ₹100. They may be hoping to increase profits or at least make it stable with the media industry intensity going up with the Jio and Hotstar merger turning up the heat,” said the official.
However, Ajimon Francis, Managing Director of Brand Finance India, said the move may be pointing towards some consolidation or investor interest for which the promoter family wants to show faith in future holdings.
“They may be trying to protect their interest by increasing the shareholding so that they have a voice in the discussions, if there is any acquisition plan happening. Media houses are eating up each other. We may call it a small deal but it’s not a small deal,” said Francis.
ZEEL’s share fell by 0.30 per cent on BSE at ₹98.13 on March 6, 2025.