Zee Media Corporation Limited has informed the Exchange regarding Outcome of Board Meeting held on May 18, 2026 about the re-appointment of Ms. Swetha Gopalan as an Independent Director.
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Zee Media Corporation Limited's board meeting on May 18, 2026 approved two key items. First, the company will issue up to 14 crore warrants at Rs. 8.50 per warrant to three Foreign Portfolio Investors (Magnifica Global, Minerva Ventures, and Sun India Opportunities), raising up to Rs. 119 crore. Each warrant is convertible into one equity share within 18 months. Post-allotment, these investors will collectively hold approximately 15.75% of the fully diluted equity. Second, Ms. Swetha Gopalan is re-appointed as Independent Director for a second five-year term starting August 1, 2026, subject to shareholder approval at an EGM on June 13, 2026. Ms. Gopalan holds an MBA from Kellogg School of Management and is not related to any board member.
The warrant issuance will dilute existing shareholders by around 15.75% but brings in Rs. 119 crore of capital. The re-appointment of the independent director is routine governance and has no immediate shareholder impact.