Zee Media Corporation shares jumped 15% after the company announced that its board will meet on September 27, 2024, to consider raising funds through various financial instruments. The company will evaluate options such as private placements, qualified institutions placements, preferential issues, or a combination of methods, potentially in multiple tranches.
Zee Media, part of the Essel Group, operates one of India’s largest private news networks, with 15 news channels in 7 languages, including 1 global, 3 national, and 11 regional channels. In the digital space, it boasts 5 digital news channels, 7 news apps, and 32 digital properties.
As of 9:39 am, the shares were trading 12.38% higher at ₹15.70 on the NSE.
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