Zee Media Corporation Limited witnessed a positive rally in its stock price after the company announced significant corporate decisions post its Board meeting. The Board of Directors approved a fundraising initiative of up to Rs 400 crore through various instruments, including equity shares, convertible bonds, debentures, warrants, or other equity-linked securities.
The funds may be raised through private placement, qualified institutional placement (QIP), or other methods in one or more tranches. This fundraising plan is subject to obtaining necessary approvals from shareholders and regulators.
In addition to the fundraising, the Board also approved an increase in the shareholding limits for Foreign Portfolio Investors (FPIs) and Foreign Institutional Investors (FIIs). The limits have been raised from 24% to 49% of the company’s paid-up share capital, staying within the permissible regulatory limit. This decision is also contingent on shareholder approval, which will be sought via a postal ballot.
The Board meeting, which started at 3:30 PM and concluded at 5:15 PM, has set a positive tone for the company’s strategic initiatives aimed at strengthening its financial and operational capabilities.
Zee Media Corporation Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Mon, Jan 13 2025
|
₹19.40
|
₹18.95
|
-5.01%
|
|
Fri, Jan 10 2025
|
₹20.70
|
₹19.95
|
-5.05%
|
|
Thu, Jan 9 2025
|
₹21.60
|
₹21.01
|
-0.66%
|
|
Wed, Jan 8 2025
|
₹21.15
|
₹21.15
|
|
|
Tue, Jan 7 2025
|
₹18.65
|
₹20.15
|
|
|
Mon, Jan 6 2025
|
₹20.20
|
₹19.23
|
-5.04%
|
|
Fri, Jan 3 2025
|
₹19.49
|
₹20.25
|
|
|
Thu, Jan 2 2025
|
₹19.51
|
₹19.85
|
|
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