The Zee Entertainment Enterprises Ltd (ZEEL) board has approved raising up to Rs 3,143.51 crore through issuance of fully convertible warrants to a promoter group entity - Sunbright Mauritius Investments.
The board on Wednesday approved preferential allotment of up to 24.95 crore warrants to Sunbright Mauritius at an issue price of Rs 126 per warrant, a regulatory filing said.
As of March 2026, the promoter group entity held 3.99 per cent stake in ZEEL. This fundraise will increase Sunbright's stake in ZEEL.
Each warrant of face value of Re 1 will be convertible into one fully paid-up equity share of the company within a period of 18 months from the date of allotment.
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The company said the proposed allottee will pay 25 per cent of the warrant issue price upfront, while the balance 75 per cent will be payable at the time of exercising the conversion option.
Upon full conversion, the warrants would represent up to 20 per cent of the company's fully diluted share capital, according to the filing.
ZEEL said the issue price of Rs 126 per warrant represents a premium of 11.86 per cent to the price determined under SEBI regulations and a premium of 16.33 per cent to the closing market price on the NSE as on July 1.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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