Norges Bank Investment Management, acting for the Government Pension Fund Global, sold a 0.6% stake in Zee Entertainment Enterprises Ltd, offloading 60.98 lakh shares at ₹72.32 each for ₹44.4 crore. | Photo Credit: Dado Ruvic
Norges Bank Investment Management sold 60.98 lakh shares, or a 0.6 per cent stake, in Zee Entertainment Enterprises Ltd at an average price of ₹72.32 on Friday, for a total value of ₹44.4 crore.
Norges acted on behalf of the Government Pension Fund Global, which held 3.99 per cent of the company’s shares in December. Norges Bank acts as the overseer of the world’s largest sovereign wealth fund, the Government Pension Fund Global. Earlier, Norges had supported Zee’s proposal to issue convertible warrants on a preferential basis to its promoters.
Zee consolidated net profit in the December-ending quarter fell 5 per cent, primarily due to muted advertising revenue, while revenue grew 15 per cent, driven by positive growth in subscriptions and other sales and services. The broadcaster reported a net profit of ₹ 154.8 crore on revenue of ₹ 2,280 crore in the third quarter. The EBITDA margin stood at 10.5 per cent.
Zee’s share price fell by 1.51 per cent as per the BSE closing on Friday evening.
Published on March 20, 2026