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BW Businessworld

Zee Entertainment Surges; RBI Lifts FII Limit

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Shares in Zee Entertainment Enterprises gain 4 per cent after the Reserve Bank of India on Monday (2 June) said foreign institutional investors can purchase up to 100 per cent of stake in the company, up from the earlier limit of 49 per cent.

The approval was based on the proposal approved by the board of directors of the company on May 22, 2013 and by the shareholders on July 25, 2013, the company said in a filing on Monday.