Zee Entertainment Enterprises has announced the redemption of outstanding Foreign Currency Convertible Bonds (FCCBs) amounting to USD 23.90 million. The decision, approved by the board on March 26, 2026, also includes the cancellation of an unutilised commitment of USD 215.1 million. This move comes in response to requests from bondholders, citing the current geopolitical situation and capital allocation strategy.
In addition to the FCCB redemption, Zee Entertainment has also approved the sale and transfer of its content syndication and licensing business to its wholly-owned subsidiary, ZI-IPR Enterprises Limited. The transfer will be executed as a slump sale for a lump sum consideration at book value, effective from April 1, 2026.
The company has further decided to invest up to ₹500 crore in Optionally Convertible Debentures (OCDs) and ₹5 crore in the equity share capital of ZI-IPR Enterprises Limited. This investment aims to strengthen the subsidiary’s operations and support the acquisition, management, and monetisation of content-related intellectual property rights.
Moreover, Zee Entertainment has approved an investment of up to ₹20.09 crore in the equity share capital of CORE Private Limited. This phased investment will allow Zee to acquire a 51% shareholding in CORE on a fully diluted basis, diversifying and expanding its business operations in the creative, arts, and entertainment sector.
The board meeting, which commenced at 11:00 a.m., concluded at 5:10 p.m.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).