Mumbai: Zee Entertainment Enterprises Ltd's board has approved a proposal to raise up to ₹3,143.5 crore through the issue of warrants to Sunbright Mauritius Investments Ltd, a promoter group entity. Upon conversion, this could increase the promoter group's shareholding to nearly 24% from the current 3.99%, subject to shareholder and regulatory approvals.Under the proposal, the company will issue up to 24.95 crore fully convertible warrants to Sunbright Mauritius Investments at ₹126 per warrant, raising up to ₹3,143.5 crore. The promoter group entity will pay ₹31.50 per warrant, or 25% of the issue price, upfront, with the remaining ₹94.50 per warrant payable upon conversion. The warrants may be converted into equity shares in one or more tranches within 18 months from the date of allotment.The proposed issue price is lower than the ₹132 per warrant proposed under the promoters' July 2025 fundraising plan, which was ₹3.42 above the SEBI-prescribed floor price of ₹128.58.
Zee board backs promoter stake expansion to 24%
Zee Entertainment's board has greenlit a significant fundraising move, approving the issuance of warrants worth up to ₹3,143.5 crore to a promoter group entity, Sunbright Mauritius Investments. This strategic move, pending shareholder and regulatory nods, could substantially boost the promoter group's stake to nearly 24%. The warrants, priced at ₹126 each, require an upfront payment of 25%, with the balance due upon conversion within 18 months.
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