The company received communications from Warrant Holders expressing their unwillingness to exercise the conversion option on the outstanding warrants, which is due on or before May 07, 2026.
ZEEMEDIA · price
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Zee Media Corporation Ltd has received communications from all three Foreign Portfolio Investor (FPI) warrant holders indicating they will not exercise the conversion option on 13,33,33,333 fully convertible warrants. These warrants were issued at Rs. 15 per warrant on a preferential basis, totaling approximately Rs. 200 crore. The conversion was due on or before May 7, 2026. The FPIs involved were UNICO Global Opportunities Fund Limited, Ebisu Global Opportunities Fund Limited, and AL Maha Investment Fund PCC – Onyx Strategy. The company disclosed this update under Regulation 30 of the Listing Regulations.
The company will not receive Rs. 200 crore from warrant conversion, which could limit available capital for growth or operational needs. Existing shareholders are not subject to equity dilution from this warrant exercise.