News From Press Essel Group repays mutual funds after promoter stake sale

Essel Group repays mutual funds after promoter stake sale

Source: The Economic Times Nov 29, 2019

HDFC Mutual Fund, ICICI Prudential MF and Aditya Birla SL Mutual Fund have received payments from the Essel group after the promoters sold stake in Zee Entertainment Enterprises (ZEE) to repay lenders. The recovery is on loans that were given to Essel, with ZEE shares used as collateral.
In a filing with the stock exchange, HDFC Mutual Fund said it has received Rs 167 crore toward part repayment of debt instruments, along with interest.

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