Zee’s promoters will infuse ~Rs 22.4 billion over a period of 18 months through the issuance of 169.5 m fully convertible warrants at a price of Rs 132/warrant.
(Photo: Glenn Carstens Peters /Unsplash)
Following a strategic review of Zee’s growth plans and market perception conducted by a banker, the Board has approved an increase in promoter shareholding in the company by way of issuance of fully convertible warrants.