JHUNJHUNWALA, Bofa BUY ~225-CR ZEE SHARES

Rakesh Jhunjhunwala’s Rare Enterprises and Bofa Securities Europe SA bought ~225 crore worth of Zee Entertainment shares on Tuesday, a day the stock surged 40 per cent. Both the transactions took place on the National Stock Exchange of India (NSE), where Zee shares worth ~5,209 crore changed hands. The stock touched an intra-day high of ~270.90 before closing at ~261.70 on the NSE. Rare Enterprises bought 5 million shares (0.52 per cent stake) at ~220 apiece, totalling ~110.20 crore, according to the bulk deals data from exchanges. Bofa Securities bought 4.87 million shares (0.51 per cent) at ~236 a share, totalling ~114.90 crore. At the end of June 2021 quarter, Bofa Securities held a 1.03 per cent stake in Zee. Rare’s name didn’t feature in the public shareholders list, where only names of those holding at least a 1 per cent stake is disclosed.