Zee Entertainment is considering selling a 49% stake in its Music division, Zee Music, to boost cash reserves, with plans to make it a subsidiary soon.
Currently, ZEEL has a cash balance of around ₹3,000 crore. The company's current market capitalization is just over ₹10,000 crore.
Earlier this month, the board of ZEEL had approved issuing warrants to promoters on a preferential basis to raise up to ₹3,143.5 crore.
However, this move is still pending shareholder approval after a similar attempt last year failed due to insufficient votes from shareholders.
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Zee Entertainment plans to issue ₹3,143 crore in warrants to promoters, requiring 25% upfront payment for conversion.
Zee Entertainment Enterprises Ltd is raising at least Rs 2,300 crore. This capital will fund new business ventures and strategic…
Zee Entertainment will hold an extraordinary general meeting on July 31. Shareholders will vote on a preferential issue of…
