ZEEL completes its acquisition of IWPL
Zee Entertainment Enterprises Ltd (ZEEL) on Monday announced that it has completed acquisition of balance 49% equity stake in its subsidiary India Webportal Private Limited (IWPL)
Zee Entertainment Enterprises Ltd (ZEEL) on Monday announced that it has completed acquisition of the balance 49% equity stake in its subsidiary India Webportal Private Limited (IWPL).
On June 8, ZEEL was reported to have announced that it will acquire balance 49% equity stake in India Webportal Pvt Ltd for Rs 197.47 crore to consolidate its digital business.
“The Company has completed the requisite formalities and acquired the balance 49% equity stake in IWPL comprising 12,20,10,000 equity shares of Rs 10 each. Upon aforesaid acquisition, IWPL has become a wholly owned subsidiary of the Company effective July 22, 2017,” ZEEL said in a BSE filing.
