Zee Media Corporation to raise Rs 200 crore via warrants to foreign portfolio investors

The board of Zee Media Corporation Ltd (ZMCL) on Friday approved a preferential issue worth Rs 200 crore via warrants to foreign portfolio investors. The warrants will be fully convertible into an equal number of shares at a price of 15 per share.

ZMCL said in a regulatory filing that the warrants will be issued to UNICO Global Opportunities Fund, AL Maha Investment Fund PCC-Onyx Strategy and Ebisu Global Opportunities Fund Ltd.