Rakesh Jhunjhunwala buys stake in Zee Entertainment

Ace investor Rakesh Jhunjhunwala's Rare Enterprises Ltd and BofA Securities Europe SA on Tuesday bought shares of Zee Entertainment Enterprises worth over Rs 225 crore through open market transactions.

Rare Enterprises bought 50 lakh scrips at Rs 220.44 per share through bulk deal transactions on NSE.

BofA Securities Europe SA purchased 48.65 lakh shares at an average price of Rs 236.2 apiece.

Rare Enterprises' purchase value stood at Rs 110.22 crore while that of Bofa Securities Europe SA was Rs 114.92 crore.

BofA Securities Europe SA - Odi is a public shareholder of Zee Entertainment and held 1.03 per cent stake at the end of the June 2021 quarter.

On NSE, shares of Zee Entertainment zoomed as much as 40.06 per cent to close at Rs 261.7 on Tuesday.

Photograph: Shailesh Andrade/Reuters