Zee Media Corporation Limited has informed the Exchange about Forfeiture of Warrants.
ZEEMEDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Zee Media Corporation's convertible warrants issued to three FPIs have lapsed without conversion. The company had allotted 133.33 million fully convertible warrants at Rs. 15 each to UNICO Global Opportunities Fund, Ebisu Global Opportunities Fund, and AL Maha Investment Fund in November 2024. The FPIs had paid only 25% upfront (Rs. 50 crore) but declined to pay the remaining 75% and convert the warrants into equity shares before the May 7, 2026 deadline. As a result, all 133.33 million warrants have been cancelled and the Rs. 50 crore upfront subscription amount stands forfeited. There is no change in the company's paid-up share capital.
Neutral to slightly negative for shareholders — the company retains Rs. 50 crore from forfeited upfront payments, but misses out on Rs. 150 crore of potential capital infusion and equity dilution that could have brought in new institutional investors.