Zee Media Corporation Limited has informed the Exchange regarding Appointment of Ms. Swetha Gopalan as an Independent Director of the company w.e.f. August 01, 2026.
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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 Rs. 119 crore. Each warrant is convertible into one equity share within 18 months. Post-conversion, these investors will collectively hold about 15.75% of the fully diluted share capital. Second, Ms. Swetha Gopalan is re-appointed as Independent Director for a second 5-year term from August 1, 2026 to July 31, 2031, subject to shareholder approval at an EGM scheduled for June 13, 2026.
The warrant issuance will dilute existing shareholder stakes but brings in Rs. 119 crore of capital from FPIs. The re-appointment of Ms. Gopalan maintains board continuity and independence. Both items require shareholder approval at the upcoming EGM.