Zee board backs promoter stake expansion to 24%

Zee Entertainment's board approved issuing up to 24.95 crore fully convertible warrants to promoter group entity Sunbright Mauritius Investments at Rs 126 per warrant, potentially raising up to Rs 3,143.5 crore. The issue price is Rs 2.58 below the SEBI-prescribed floor price of Rs 128.58 and lower than the Rs 132 per warrant proposed under the promoters' July 2025 fundraising plan. Promoters will pay 25 percent upfront with the balance due upon conversion within 18 months from the date of allotment.