Notice Calling Extra Ordinary General Meeting of the Company scheduled to held on June 13, 2026
ZEEMEDIA · price
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Zee Media Corporation has called an Extra Ordinary General Meeting on June 13, 2026 to seek shareholder approval for two key proposals. The primary item is the issuance of up to 14 crore (140 million) fully convertible warrants to three Foreign Portfolio Investors (FPIs) at ₹8.50 per warrant, totaling up to ₹119 crore. The allottees are Magnifica Global Opportunities VCC-MGO High Conviction Fund, Minerva Ventures Fund, and Sun India Opportunities Investing Fund. Each warrant is convertible into one equity share within 18 months, with 25% paid upfront (₹2.125) and 75% (₹6.375) payable on conversion. The second item is the re-appointment of Ms. Swetha Gopalan as Non-Executive Independent Director for a second 5-year term from August 1, 2026 to July 31, 2031. Voting will be conducted electronically from June 10-12, 2026, with June 6, 2026 as the cut-off date for eligibility.
The preferential issue to FPIs will bring in up to ₹119 crore of capital, which could strengthen the company's balance sheet and support media operations. However, it will dilute existing shareholder stakes. The director re-appointment maintains continuity in board independence. Shareholders should carefully evaluate the warrant pricing and dilution impact before voting.