Zee Media Fund Raise: QIP, Equity Placement... - Board Meeting Next Week; See Details

Zee Media Corporation Limited has announced that its Board of Directors will convene on January 13, 2025, to discuss and potentially approve fundraising strategies to support the company’s future plans. The announcement was shared in an official communication to the National Stock Exchange ( NSE ) and Bombay Stock Exchange ( BSE ).

‘We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, January 13, 2025, to inter-alia discuss and consider raising of funds,’ the company said in the exchange filing on BSE. 

Zee Media Fund Raise
The agenda of the board meeting includes exploring various fundraising options such as the issuance of equity shares, convertible securities, or other permissible instruments.

Possible routes include further public issues, rights issues, American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs), debt issues, preferential allotments, private placements, or qualified institutions placements (QIP).

‘By issue of equity shares and/or any other instruments or eligible securities representing either equity shares and/or convertible securities linked to equity shares or through any other permissible mode or a combination thereof, including by way of further public issue, right issue, ADRs/ GDRs/ FCCBs, debt issue, preferential allotment, private placement, qualified institutions placement (‘QIP’), or any other method,’ as mentioned by the company.

Zee Trading Window 
Zee Media has already closed its trading window for dealing in its securities. This closure has been in effect since January 1, 2025, and will remain so until 48 hours after the declaration of the unaudited financial results for the third quarter and the nine months ending December 31, 2024.

Zee Media Last Fundraising 
In September 2024, Zee Media Corporation Limited (ZMCL) approved the issuance of up to 13.33 crore warrants, valued at Rs 200 crore. These warrants will be fully convertible or exchangeable for one fully paid-up equity share in the corporation, as per a filing with the exchanges.

As outlined in the filing, 25% of the issue price will be paid upon subscription and allotment of the warrants, with the remaining 75% due when the warrants are exercised, within 18 months of allotment, in one or more installments.

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