Zee Entertainment shareholders to invest $261 million in fundraiser
Indian broadcaster Zee Entertainment on Monday approved a fundraise through the issue of fully convertible warrants worth 22.37 billion rupees (about $261 million) to certain shareholders.
Zee will issue up to 169.5 million fully convertible warrants on a preferential basis to Altilis Technologies and Sunbright Mauritius Investments, in one or more tranches.
The fundraise is part of Zee's plan to build its core business and invest in high-potential emerging segments, the company said, without expanding on the details.
The development also comes as Zee tries to stabilise its operations and focus on digital growth after many efforts including cost cuts, trimming staff, and investing in new content to regain ground after the fallout from last year's failed merger with Sony's Indian assets.
The total promoter shareholding post the fundraise will increase to 18.39% from 3.99% as of March-end 2025, Zee said.
