New Delhi: In a strategic move aimed at bolstering its financial position, Zee Media Corporation Limited has announced plans to raise up to ₹200 crore through various fundraising options. The decision was formally approved by the company’s Board of Directors during a meeting held on June 26, 2024, as detailed in an official exchange filing.
According to the filing, Zee Media intends to explore multiple avenues for raising these funds, including the issuance of equity shares, preference shares, or other eligible securities. The fundraising efforts may encompass private placement, qualified institutions placement (QIP), preferential issue, or other permissible modes. This initiative, structured to be implemented in one or more tranches, is contingent upon requisite approvals from shareholders and regulatory authorities.
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Earlier this month, the Board of Zee Entertainment Enterprises Limited, the parent company of Zee Media, greenlit a proposal to raise up to INR 20 billion through equity or alternative securities. This strategic move is poised to enhance Zee Media’s operational agility and financial resilience amidst the dynamic media landscape, thereby positioning it to capitalize on future growth opportunities.
The approval underscores Zee Media’s proactive approach in fortifying its financial base to navigate market uncertainties and seize emerging prospects in the media industry. As the company moves forward with its fundraising plans, stakeholders and industry observers alike are keenly watching the developments that promise to shape its strategic trajectory in the coming months.
