Zee Entertainment shareholders approve ₹3,143.5cr promoter group warrants at EGM
Zee Entertainment just got a big thumbs up from its shareholders for a ₹3,143.5 crore fund infusion from promoters.
This move, approved at their recent extraordinary general meeting (EGM), means Zee will issue nearly 25 crore warrants at ₹126 each to the promoter group, raising their stake in the company to almost 24%.
Zee shareholders approve 'Truly Yours' ESOP
The fresh funds are set to power Zee's growth plans, including new business ideas and shoring up day-to-day operations.
Chairman R Gopalan called it a sign of strong investor trust in the company's management and long-term strategy.
Shareholders also okayed the "Truly Yours" ESOP plan, offering 3,74,22,835 stock options to eligible employees, a way to reward and keep top talent around.
On Friday, Zee shares closed up 1.76% at ₹114.18.