The National Stock Exchange (NSE) has announced that it will stop issuing new futures and options contracts for Zee Entertainment after the expiration of the existing contract.
SEBI/HO/MRD2/PoD-2/CIR/P/2023/171 dated October 16, 2023 and chapter 3.5 of Exchange circular No. NSE/FAOP/57264 dated June 23, 2023 regarding eligibility criteria of stocks.
The current unexpired contracts for Zee in April, May, and June 2024 will remain open for trading, and new strike options will be introduced within these existing contract months.
In February last year, the NSE removed Zee from the F&O segment after the National Company Law Tribunal (NCLT) admitted an insolvency plea filed by IndusInd Bank against the company. However, the NSE subsequently reversed this action after the NCLT provided interim relief to the media firm by staying the bankruptcy proceedings against it.
Zee Entertainment's shares have almost halved since January following the collapse of its $10-billion merger with Sony Pictures Networks India.