Subhash Chandra to be left with just 5% in Zee

Essel Group chairman Subhash Chandra will sell 16.5% in flagship Zee Entertainment Enterprises to financial investors as he makes a 2nd attempt to raise money to retire debt. Chandra will be left with 5% in Zee, a company he founded in 1982. US-based investment manager Invesco Oppenheimer will become the largest shareholder of Zee with 19%.

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