Zee Media Corporation has approved a preferential issue of up to 14 crore warrants to foreign investors, according to a regulatory filing made on May 18, 2026.
The warrants will be issued at ₹8.50 each, taking the total issue size to nearly ₹119 crore. The proposal is subject to shareholder approval and other regulatory clearances.
The proposed allotment will be made to 3 entities in the public category. These are Magnifica Global Opportunities VCC-MGO High Conviction Fund, Minerva Ventures Fund, and Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund.
The company said each warrant will be convertible into one fully paid-up equity share with a face value of ₹1. The conversion can take place within 18 months from the date of allotment.
Under the structure approved by the board, investors will pay 25% of the warrant issue price at the time of subscription and allotment. The remaining 75% will be payable when the warrants are exercised.
Zee Media said the amount paid at the time of subscription will be adjusted against the issue price of the equity shares arising from conversion of the warrants.
The company also stated that the proposed allottees belong to the non-promoter and non-promoter group category.
According to the filing, the shareholding of the proposed investors is expected to increase after the warrants are fully converted into equity shares.
The company said the calculations related to post-conversion shareholding assume that all existing convertible instruments outstanding as of the relevant date are also converted.
Preferential issues through warrants are commonly used by listed companies to raise capital over a phased payment structure instead of an immediate equity issue.
The board has also approved the re-appointment of Swetha Gopalan as an independent director for a second term of 5 years, subject to shareholder approval.
Her proposed term will run from August 1, 2026, to July 31, 2031. Her current term is scheduled to end on July 31, 2026.
The company will hold an extraordinary general meeting on June 13, 2026, through video conferencing to seek shareholder approval for both proposals.
As of May 19, 2026, 1:12 pm, Zee Media Corporation Ltd share price was trading at ₹8.05, up 4.95% from the previous closing price.
The board-approved proposals, including the ₹119 crore warrant issue and independent director re-appointment, are subject to shareholder and regulatory approvals.
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Published on: May 19, 2026, 1:29 PM IST
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