Zee Media Corporation Limited’s Board of Directors has approved a plan to raise funds up to Rs 400 crore through a variety of instruments, including equity shares, convertible bonds, debentures, warrants, or other equity-linked securities.
The fundraising may be conducted through private placement, qualified institutional placement (QIP), or other methods, in one or more tranches. This decision is subject to the necessary shareholder and regulatory approvals.
Additionally, the Board approved increasing the shareholding limits for Foreign Portfolio Investors (FPIs) and Foreign Institutional Investors (FIIs) from 24% to 49% of the company’s paid-up share capital, staying within the overall permissible limit. This increase is also contingent on shareholder approval through a postal ballot.
The Board meeting began at 3:30 PM and concluded at 5:15 PM.
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