Zee Media shares hit 10% upper circuit to scale 52-week highs on fundraising news; soar 107% from one-year low

Shares of Zee Media Corporation were locked in the 10 per cent upper circuit of ₹20.70, also their 52-week high on Friday, September 27 after the company board approved a fund raise of up to ₹200 crore via issue of warrants.

As per the exchange filing, the company has proposed the issuance of up to 13,33,33,333 (Thirteen Crores Thirty-Three Lakhs Thirty-Three Thousand Three Hundred and Thirty-Three) warrants, fully convertible or exchangeable into one fully paid-up equity share each. These warrants are priced at ₹15 apiece, amounting to a total not exceeding ₹200 crore.