Zee Entertainment Enterprises Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on July 10, 2025
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Zee Entertainment has called an Extraordinary General Meeting on July 10, 2025 (via video conferencing) to seek shareholder approval for issuing up to 16.95 crore fully convertible warrants to Promoter Group entities — Sunbright Mauritius Investments Limited and Altilis Technologies Private Limited. Each warrant is priced at Rs. 132 and is convertible into one equity share of Re. 1 face value, taking the total potential issue size to about Rs. 2,237.44 crore. Warrant holders must pay Rs. 33 (25%) upfront and the balance Rs. 99 (75%) at the time of conversion, which can happen in tranches within 18 months of allotment. The relevant date for determining the floor price is June 10, 2025. Remote e-voting will be open from July 6 to July 9, 2025, with the cut-off date set as July 3, 2025.
This is a significant capital infusion of up to ~Rs. 2,237 crore from the Promoter Group, which signals promoter confidence in the company's prospects. However, if all warrants are converted, it will result in dilution of existing public shareholders. The stock may see some short-term volatility around the EGM date depending on shareholder sentiment toward the preferential issue pricing.