Zee Media plans to raise ₹200 crore through warrant issuance to enhance financial stability.
Zee Media Corporation Limited plans to raise ₹200 crore by issuing up to 13.33 crore warrants at ₹15 each, convertible into equity shares within 18 months. The fundraising aims to enhance financial stability amid competition. Following the announcement, shares surged 10% to a one-year high. An Extraordinary General Meeting is scheduled for October 22, 2024, to seek shareholder approval for the plan, with significant investments from non-promoter entities.
September 27, 2024
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