ZEE Board okays raising Rs 2,000 cr in funds to enhance its strategic flexibility

At a Board meeting held yesterday, June 6, 2024, the Zee Entertainment Enterprises Limited (ZEEL) Board gave the go ahead to raise funds to the tune of Rs 2000 crore by way of issuance of equity shares and/or any other eligible securities.

This will enable the Company to enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape.

ZEEL informed the BSE that, “We wish to inform that the Board of Directors of the Company at its meeting held today has, inter-alia, considered and given its in-principle approval for raising funds by way of issuance of equity shares and/or any other eligible securities (convertible/non[1]convertible) through permissible modes in one or more tranches, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods, provided that the aggregate amount to be raised by issuance of such securities shall not exceed Rs 2,000 crore and subject to such regulatory/ statutory approvals, including approval of the shareholders, as may be required.”