Zee Entertainment Allots Warrants to Promoter Group Entity
· Business · Economic Times, Moneycontrol
Zee Entertainment Enterprises has allotted 20.94 crore fully convertible warrants to Sunbright Mauritius Investments Ltd, a promoter group entity. The company raised Rs 659.76 crore through this subscription, representing 25 percent of the total issue price. These warrants are convertible into equity shares within 18 months from the August 21 allotment date. The total issue size is valued at approximately Rs 2,639 crore.
Why it matters
This capital infusion provides Zee Entertainment with additional funding as it navigates regulatory challenges and market operations.
Read the original report — Economic Times
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