Essel Group chairman Subhash Chandra will sell 16.5% in flagship Zee Entertainment Enterprises to financial investors as he makes a second attempt to raise money to retire debt. Once the stake sale is completed, Chandra will be left with 5% in Zee, a company he founded in 1982.

from Times of India https://timesofindia.indiatimes.com/business/india-business/subhash-chandra-to-be-left-with-just-5-in-zee/articleshow/72151458.cms