Zee Entertainment seeks EGM approval for ₹3,143.5 cr convertible warrants
Zee Entertainment is asking shareholders to approve a ₹3,143.5 crore fundraise through convertible warrants at its July 31 EGM.
The plan: issue nearly 25 crore warrants at ₹126 each to Sunbright Mauritius Investments Ltd. (a promoter group company), with investors paying 25% upfront and the rest within 18 months.
Zee funds sports and digital
Zee plans to use the funds for big moves: ₹1,000 crore will go into grabbing sports media rights and building production infrastructure.
Another ₹450 crore is set aside for new content, tech upgrades, and digital projects. Plus, it is putting ₹450 crore into boosting its short-form platform Bullet with AI features.
There's also a chunk (₹944 crore) for buying up music content, VFX services, live events, and more.
Shareholders can vote online from July 27-30 if they want in on these plans.