LIC raises stake in Zee Entertainment to over 5% by buying additional 2 lakh equity shares

Share price fall: LIC raises stake in Zee Entertainment to over 5% by buying additional 2 lakh equity shares
Shares Price fall (Image: Canva)

The share price of India’s biggest IPO company LIC has fallen by 12.05% in the last week. Today LIC’s share is trading at Rs 709.70 while an IPO of Rs 949 is at a discount of around 25% to the issue price.

On Wednesday 8 June 2022, LIC informed the exchange that LIC has purchased 2 lakh additional equity shares in Zee Entertainment Enterprises Ltd at a price of Rs 247.25 through Open Market Purchase. And now LIC holds a total of 4,81,10,464 Equity Shares which is 5.008% of the paid-up capital of Zee Entertainment Enterprises Limited Company.

Earlier LIC held 4,79,10,464 shares in Zee Entertainment Enterprises Limited which was 4.988% of the paid-up capital of Zee Entertainment Enterprises Limited Company.

Zee Entertainment Enterprises is an Indian media conglomerate that operates 45 channels worldwide and has a market cap of Rs 23192 crore.

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LIC share price – Financials

52 Week High949.00
52 Week Low708.05
Sector PE104.09
Face Value10
Mkt Cap (Rs. Cr.)448,885
Book Value Per Share16.46

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Net Profit 2022 (Rs. Cr.)4,043
Debt to equity (2022)0.00
Revenue 2022 (Rs. Cr.)720,514
EPS (2022)6.39
ROE (2022)38.84
Dividend/Share (INR) (Mar 2022)1.50

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