Zee Media Corporation Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 13, 2026
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Zee Media Corporation Limited has called an Extra-Ordinary General Meeting on June 13, 2026, to be held via Video Conferencing. The meeting includes two special business items: (1) Issue of up to 14 crore fully convertible warrants to three Foreign Portfolio Investors (Magnifica Global Opportunities, Minerva Ventures Fund, and Sun India Opportunities Investing Fund) at ₹8.50 per warrant, totaling ₹119 crore. Each warrant converts to one equity share within 18 months, with 25% upfront payment (₹2.125) and 75% on exercise (₹6.375). (2) Re-appointment of Ms. Swetha Gopalan as Non-Executive Independent Director for a second term of 5 years from August 1, 2026 to July 31, 2031. Remote e-voting will be open from June 10-12, 2026, with June 6, 2026 as the cut-off date for eligible voters.
The ₹119 crore warrants issue will bring capital to the company but will dilute existing shareholders upon conversion, as warrants holders can acquire up to 14 crore new equity shares. The FPI investment signals institutional confidence in the media company. Shareholders should vote on whether to approve the preferential allotment and director re-appointment.