By 10.55 am, the issue saw applications for 3,33,40,880 shares against the issue size of 2,77,99,200 shares. This implies a subscription of 1.2 times.

The stock traded at a P/E multiple of 42.27, while the price-to-book value ratio stood at 36.38.

“The right thing for the board to have done was to be proactive in terms of looking at what the investors want. Mind you, this is an 18% shareholder with a market of Rs 5,000 crore at stake, who is asking for the removal of a Managing Director,” says Hetal Dalal.

Byju Raveendran & family’s wealth stood at Rs 24,300 crore, according to the IIFL Wealth Hurun India Rich List 2021. This makes them the 67th richest Indians.

At 09:50 hours (IST), shares of Zee Entertainment Enterprises traded at Rs 298.60, down 1.52%, on the National Stock Exchange.

As of 30-Jun-2021, promoters held 49.95 per cent stake in the company, while FIIs held 13.68 per cent and domestic institutional investors had 2.52 per cent.

The 30-share BSE Sensex was down 383.57 points at 58742.79

Some market participants believe the news may trigger short-term selling in the likes of Kajaria Ceramics, Asian Granito, Cera Sanitary, Somany Ceramics, HSIL, Nitco, Pikarna, etc.

Home First Finance Company India Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 5193.53 Crore) operating in NBFC sector.

The Relative Strength Index of the stock stood at 45.83 on Friday.