Zee Media raises ₹19.12 crore as Singapore-based FII ups stake to 3.33%; converts 3 crore warrants into equity shares

Zee Media Corporation raised ₹19.12 crore after Singapore-based FII Sun India Opportunities Investing Fund converted 3 crore warrants into equity shares at ₹8.50 apiece. The conversion lifts the FII's stake to 3.33 percent on a fully diluted basis, with 2 crore warrants still outstanding for conversion within 18 months. The stock gained 1 percent to ₹8.61 on BSE after the announcement, though it remains down over 40 percent on a one-year basis.