1 month ago
Zee Entertainment Shares Drop 13% After SEBI Order
SEBI, the Indian securities regulator, said Zee Entertainment did a transaction without getting the board and audit committee to approve it.
SEBI also said Zee broke rules about fraud and how companies must share information.
Because of this, Zee’s stock price fell 13% to about Rs 100.
The company said it is looking at the order and thinking about what to do next.
The market value of Zee dropped to about Rs 9,878.94 crore.
SEBI issued an order against Zee Entertainment for transactions lacking board and audit committee approvals.
The order cites violations of PFUTP and LODR regulations.
Zee shares fell 13% to Rs 100.40, market cap dropped to Rs 9,878.94 crore.
26.05 lakh shares traded, turnover Rs 26.94 crore.
The company said it is evaluating the order and exploring options.
- Who
- SEBI and Zee Entertainment
- What
- SEBI issued an order for non‑compliance with board approvals and regulatory rules
- Where
- India, BSE
- When
- today
- Why
- transactions lacked board and audit committee approvals, violating PFUTP and LODR regulations
Key facts
- SEBI Order Date
- today
- Stock Price After Order
- Rs 100.40
- Market Cap
- Rs 9,878.94 crore
- Shares Traded
- 26.05 lakh
- Regulations Violated
- PFUTP, LODR
Quotes
Zee Entertainment
Company spokesperson
“The company is evaluating the contents and impact of the Order and exploring the relevant options in that regard.”
businesstoday.in
Sources
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