Mumbai: Zee Entertainment Enterprises Ltd’s board has approved a proposal to raise up to ₹3,143.5 crore through the issue of warrants to Sunbright Mauritius Investments Ltd, a promoter group entity. Upon conversion, this could increase the promoter group’s shareholding to nearly 24% from the current 3.99%, subject to shareholder and regulatory approvals.
Under the proposal, the company will issue up to 24.95 crore fully convertible warrants to Sunbright Mauritius Investments at ₹126 per warrant, raising up to ₹3,143.5 crore. The promoter group entity will pay ₹31.50 per warrant, or 25% of the issue price, upfront, with the remaining ₹94.50 per warrant payable upon conversion. The warrants may be converted into equity shares in one or more tranches within 18 months from the date of allotment.
The proposed issue price is lower than the ₹132 per warrant proposed under the promoters’ July 2025 fundraising plan, which was ₹3.42 above the SEBI-prescribed floor price of ₹128.58.
