Zee Media Corporation | Business Upturn

Zee Media shares surge another 10% to hit 52-week high, stock rises 72% in one week

Aditya Bhagchandani — Tue, 01 Oct 2024 04:03:41 +0000

Zee Media Corporation Ltd. (NSE: ZEEMEDIA) witnessed a strong rally, with its shares surging 10% and hitting a 52-week high of ₹25.10. Over the past month, the stock has gained an impressive 72%, bringing its annual return to 76%.

Despite this significant upward movement, Zee Media’s price-to-sales (P/S) ratio of 2.1x remains close to the median of India’s media industry, which stands at around 2.3x. This suggests that while the stock’s current price may not appear overvalued, its valuation in comparison to industry peers could indicate either an untapped opportunity or a potential risk if growth expectations are not met.

Key Stock Indicators:

52-Week High: ₹25.10
52-Week Low: ₹10.00
P/B Ratio: 4.64
ROE: -8.27%
ROCE: -2.28%
Debt/Equity Ratio: 0.37
EPS: -0.72

Zee Media Corporation Share Price history

Day	Open	Close	Day’s change
Mon, Sep 30 2024	₹22.55	₹22.82	+9.98%
Fri, Sep 27 2024	₹20.40	₹20.75	+9.96%
Thu, Sep 26 2024	₹16.30	₹18.87	+19.96%
Wed, Sep 25 2024	₹15.40	₹15.73	+12.60%
Tue, Sep 24 2024	₹14.10	₹13.97	-0.85%
Mon, Sep 23 2024	₹13.01	₹14.09	+8.30%
Fri, Sep 20 2024	₹13.00	₹13.01	+0.31%
Thu, Sep 19 2024	₹12.66	₹12.97	+1.89%

About Zee Media Corporation

Zee Media is one of India’s largest and most diversified broadcasting companies, operating various regional, national, and global news channels. Additionally, it has a notable presence in digital publishing. Founded by Essel Group, the company was initially incorporated as Zee Sports Limited in 1999 and later renamed Zee News Limited in 2004. Following a demerger from Essel Group in 2006, it emerged as an independent entity.

Zee Media Corp approves fund raise of Rs 200 crores through warrants

Aditya Bhagchandani — Fri, 27 Sep 2024 09:17:13 +0000

Zee Media Corporation has approved a fund raise of ₹200 crore through the issuance of up to 13,33,33,333 warrants. Each warrant is fully convertible or exchangeable into one fully paid-up equity share of the company. The decision was made during a Board Meeting held on September 27, 2024.

Key Details of the Fundraising:

Warrants Issue: Up to 13.33 crore warrants will be issued at a price of ₹15 per warrant, amounting to a total of ₹200 crore.
Conversion Terms: Each warrant can be converted into one fully paid equity share of face value ₹1 at a price of ₹15 (including a ₹14 premium).
Time Frame: Warrant holders can convert their warrants into equity shares within 18 months from the allotment date.
Payment Structure: 25% of the issue price will be paid at the time of subscription and allotment of warrants, with the remaining 75% to be paid upon exercising the option to convert the warrant into an equity share, within the 18-month period.
Preferential Issue: The warrants will be issued to non-promoter entities on a preferential basis, subject to approval by the company’s members, regulatory authorities, and compliance with SEBI and other relevant regulations.

Upcoming EGM:

An Extraordinary General Meeting (EGM) is scheduled for October 22, 2024, to seek the members’ approval for the issuance of these warrants. The meeting will be held virtually, allowing members to participate through video conferencing and other audio-visual means.

This fund-raising initiative aims to strengthen Zee Media Corp’s financial position by bringing in capital through a strategic issuance of convertible warrants to non-promoter entities.

Zee Media shares surge 15% ahead of fundraising proposal review

Aditya Bhagchandani — Wed, 25 Sep 2024 04:10:49 +0000

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.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Zee Media Corp raises Rs 230 crore via non-convertible debentures

Sanah Shah — Wed, 03 Feb 2021 08:58:11 +0000

Zee Media Corporation on Wednesday 3rd February 2021 said that it has raised Rs 230 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

“The board of directors of the company at their meeting has approved the allotment of 2,300 unrated, unlisted, secured, redeemable non-convertible debentures bearing a face value of Rs 10,00,000, each for cash at par, aggregating to Rs 230 crore on a private placement basis,” the company said in a regulatory filing.

Zee Media Corporation stated that a fixed coupon of 9% per annum will be payable on the NCDs on half-yearly basis beginning from 31st July 2021.

Shares of Zee Media Corporation were trading 1.89 per cent higher at Rs 5.38 apiece on BSE. The company is experiencing bearish momentum with short, medium and long term Moving Averages being low.

The Board of Zee Media Corporation had approved the terms of raising of the fund through issuance and allotment of up to 2500 unrated, unlisted, secured, redeemable Non-Convertible Debentures (NCDs) bearing a face value of Rs. 10,00,000, each for cash at par, aggregating to up to Rs. 250 crore in one or more series, on a private placement basis in accordance with the provisions of the Companies Act, 2013 and Rules framed thereunder and applicable SEBI regulations on 23 December 2020.