Zee Media Corporation Limited has informed the Exchange about the Extra-Ordinary General Meeting of the members of the Company to be held on Saturday, the 13th day of June 2026, through video conferencing and/or other audio-visual means.
ZEEMEDIA · price
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Zee Media Corporation Limited's Board has approved issuance of up to 14 crore (140 million) warrants at Rs. 8.50 per warrant, raising up to Rs. 119 crore. Three Foreign Portfolio Investors - Magnifica Global Opportunities VCC-MGO High Conviction Fund, Minerva Ventures Fund, and Sun India Opportunities Investing Fund - will subscribe to these warrants. Each warrant is convertible into one equity share within 18 months. Upon full conversion, these investors will collectively hold approximately 15.75% of the company. The Board also re-appointed Ms. Swetha Gopalan as Independent Director for a second 5-year term starting August 1, 2026. An Extra-Ordinary General Meeting is scheduled for June 13, 2026 to seek shareholder approval for these matters.
The warrant issuance will dilute existing shareholder holdings by up to 15.75% on full conversion. The three new FPI investors entering at around 5% each each could bring some stability, but the significant equity dilution may put near-term pressure on the stock price.