Zee Entertainment to raise Rs 2,237.44 cr from promoter group entities, issue convertible warrants

New Delhi: Zee Entertainment Enterprise Ltd (ZEEL) on Monday said it plans to raise Rs 2,237.44 crore from promoter group entities, which will lead to an increase in promoter shareholding to 18.4 per cent..

The board of the company at its meeting held on Monday approved to “issue of up to 16.95 crore fully convertible warrants, for consideration to be received in cash” to Altilis Technologies and Sunbright Mauritius Investments, Promoter Group entities, on a preferential basis, said ZEEL.