Announced Mon, 29 Jun · 12:21 IST
Zee Media allots 14 crore convertible warrants to 3 FPIs at Rs 8.50
Fund Raising View source PDF
ZEEMEDIA · price
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Price reaction · full curve 14 horizons · vs prior close
+2.4%1-day move
₹8.26
prior close
₹8.16
base price
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AI summary
Zee Media has allotted 14 crore fully convertible warrants at Rs 8.50 each to three Foreign Portfolio Investors, raising Rs 119 crores on a preferential basis. Allottees: Magnifica Global Opportunities (4.5 crore warrants), Minerva Ventures Fund (4.5 crore warrants), and Sun India Opportunities Investing Fund (5 crore warrants). Company received 25% upfront (Rs 29.75 crores); balance 75% is payable within 18 months on conversion to equity shares at Rs 8.50 per share.
Likely market impact
Raises Rs 119 crores from FPIs via warrants. If fully converted, FPIs will hold about 15.75% combined on diluted basis, leading to equity dilution.