Zee Entertainment Enterprises Ltd (ZEEL) shares gained 3% in early trade on Tuesday after the company announced a significant capital infusion from its promoter group. The board has approved the issuance of up to 16.95 crore fully convertible warrants to promoter entities at ₹132 per warrant, amounting to a total investment of ₹2,237.4 crore.
The move is expected to bolster Zee’s financial position and support its strategic objectives in content development and technology expansion. The company, in its exchange filing, stated that the infusion would provide a stronger capital base and enhance operational flexibility.
The preferential issue is subject to shareholder approval. Upon conversion of the warrants, the promoter group’s stake in Zee Entertainment will increase to 18.39%. Notably, the issue price of ₹132 per warrant includes a premium of ₹3.42 per unit over SEBI’s prescribed floor price of ₹128.58, reflecting promoter confidence in the company’s future.
Zee Entertainment shares opened at ₹140.90 and hit an intraday high of ₹142.75, while the low stood at ₹139.60. The stock traded near its upper range amid broader market movement. Zee Entertainment’s 52-week high is ₹165.09, and the 52-week low is ₹89.32.
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