Zee Entertainment plans ₹2,237 crore warrant issue
Zee Entertainment (ZEEL) is set to raise ₹2,237 crore by issuing 16.95 crore convertible warrants at ₹132 each, all going to its promoter groups Altilis Technologies and Sunbright Mauritius.
This move will bump the promoters' stake in ZEEL up to 18.39%.
The announcement comes alongside some good news for the company—its net profit for Q4FY25 jumped sharply compared to last year.
Buyers will pay ₹33 per warrant upfront
Buyers will pay ₹33 per warrant upfront and the remaining ₹99 when they convert them into shares.
But it's not a done deal yet: shareholders still need to give a thumbs-up at a meeting scheduled for July 10, 2025, and regulators have to sign off too.
Massive 1,305% surge in Q4 net profit
ZEEL also reported a massive 1,305% surge in Q4 net profit this year—₹188 crore versus just ₹13.4 crore last year.
Revenue ticked up slightly too, with ads bringing in ₹837 crore and subscriptions plus other services making up another ₹986.5 crore.