Overview

• Zee’s board approved the preferential allotment of 16.95 crore fully convertible warrants at ₹132 each to promoter entities for a total infusion of ₹2,237 crore.
• Upon conversion of the warrants, promoter shareholding through Altilis Technologies and Sunbright Mauritius will rise from 3.99 percent to 18.39 percent.
• Subhash Chandra and management clarified that the funds derive from promoter-linked recoveries without any loans or share pledges and will be injected promptly rather than spread over 18 months.
• The company will deploy a SEBI-registered monitoring agency to oversee fund utilisation aimed at strengthening the balance sheet and supporting content and digital-technology initiatives.
• Three domestic proxy advisors — SES, IiAS and InGovern Research — have recommended voting against the proposal on grounds of dilution risk and insufficient project-wise use-of-proceeds details ahead of voting from July 6 to July 9.