Zee Media to raise ₹119 crore via 14 crore preferential warrant issue to FPIs
Sarthak Kumar
Zee Media Corporation Limited has approved the issuance of up to 14 crore warrants on a preferential basis to foreign portfolio investor (FPI) entities, aiming to raise up to ₹119 crore. The decision was approved at the company’s board meeting held on May 18, 2026.
According to the company’s exchange filing, each warrant will be issued at a price of ₹8.50 and will be convertible into one fully paid-up equity share of the company within 18 months from the date of allotment. The proposed issue size aggregates to approximately ₹119 crore.
The preferential issue will be made to three FPI entities belonging to the non-promoter and non-promoter group category — Magnifica Global Opportunities VCC-MGO High Conviction Fund Incorporated VCC Sub-Fund, Minerva Ventures Fund, and Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund.
Post conversion of warrants on a fully diluted basis, Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund is expected to hold 5.55% stake in the company, while Minerva Ventures Fund and Magnifica Global Opportunities VCC-MGO High Conviction Fund Incorporated VCC Sub-Fund may hold 5.16% and 5.04%, respectively.
The company stated that 25% of the warrant issue price will be payable at the time of subscription and allotment, while the remaining 75% will be payable upon exercise of the warrants. If the warrants are not exercised within 18 months, they will lapse and the subscription amount paid will stand forfeited.
Alongside the fundraising proposal, Zee Media’s board also approved the re-appointment of Ms. Swetha Gopalan as an Independent Director for a second consecutive term of five years from August 1, 2026 to July 31, 2031, subject to shareholder approval.
The company has also convened an Extraordinary General Meeting on June 13, 2026 through video conferencing to seek shareholder approval for the warrant issuance and the director re-appointment.
Disclaimer: This article is based on the company’s regulatory filing and is meant for informational purposes only.