Subhash Chandra’s Essel Group will repay about Rs 2,600 crore to mutual funds this week out of Rs 4,200 crore it raised by selling 11 per cent in Zee Entertainment to global fund Invesco Oppenheimer. Those fund houses from which the Essel promoters borrowed with Zee shares as collateral will receive this tranche of the payment, said a person familiar with the matter.
Nonbanking finance companies will get Rs 1,100 crore out of the stake sale proceeds. Essel needs to repay mutual funds an ..
