Please find the enclosed Outcome of the Board Meeting held on 02.03.2026
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Awaiting price reaction for this filing.
Zinema Media & Entertainment Ltd held a board meeting on March 2, 2026, where it approved a preferential issue of 1,93,00,000 equity shares at Rs. 10 per share to 15 allottees (including Nova Film Studios LLP and Lords & Partners for 50 lakh shares each), raising up to Rs. 19.3 crore. The Board also approved acquiring a 60% stake in Beontyme Technologies Private Limited through a share swap, involving the issuance of company shares (listed allottees include Nithyashree Ganapathy Subban and Dilipraj Dilli) at a stated acquisition cost of Rs. 63 crore. Beontyme Technologies, incorporated in December 2021, operates in Media Services but has reported NIL turnover and NIL net worth for FY 2022-23, FY 2023-24, and FY 2024-25. An Extraordinary General Meeting (EGM) has been scheduled for March 28, 2026 via video conferencing to seek shareholder approval.
Existing shareholders will see significant equity dilution from the 1.93 crore new shares (issued at face value with no premium, which is unusual). The acquisition target has zero historical revenue, raising concerns about the Rs. 63 crore valuation; the stock may react negatively once shareholders scrutinize the deal. Approval of all proposals depends on the EGM vote on March 28, 2026.