Essel Group said it has acquired a 10.19% stake in infrastructure and construction company IVRCL Ltd. and is in the process of increasing its holding further.
The diversified group — which is the parent of media companies such as Zee Entertainment Enterprises Ltd. and Zee News Ltd. — said that none of its media arms were related to this investment.
It didn’t give any financial details of the deal in a statement late Tuesday.
Source: WSJ