Zee Media allots 14 crore convertible warrants to 3 FPIs at Rs 8.50 each

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ZEEMEDIA · price

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Price reaction · full curve 14 horizons · vs prior close

+2.4%1-day move

₹8.26

prior close

₹8.20

base price

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AI summary

Zee Media has allotted 14 crore fully convertible warrants to 3 Foreign Portfolio Investors at Rs 8.50 per warrant, totaling Rs 119 crore. Allottees are Magnifica Global Opportunities (4.5 cr warrants), Minerva Ventures Fund (4.5 cr), and Sun India Opportunities (5 cr). Company has received 25 percent upfront (Rs 29.75 crore). Balance 75 percent is payable within 18 months on conversion into equity shares. No immediate change in paid-up capital. Post full conversion, each FPI would hold around 5 percent stake.

Likely market impact

Brings Rs 29.75 crore upfront, up to Rs 119 crore on conversion. FPIs to collectively hold about 15 percent, diluting existing shareholders.