Zee Entertainment Enterprises (ZEEL) has completed the requisite formalities and has acquired the balance 49% equity stake in India Webportal (IWPL) comprising of 12,20,10,000 equity shares of Rs 10 each. Upon aforesaid acquisition, IWPL has become a wholly owned subsidiary of the company effective from July 22, 2017.

Zee Entertainment Enterprises (ZEEL) is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.

Shares of the company gained Rs 1.3, or 0.23%, to trade at Rs 555.75. The total volume of shares traded was 39,077 at the BSE (10.17 a.m., Monday).