Rs 2,237-crore fund infusion: Zee promoters may tap into recoveries from state govts
Promoters of Zee Entertainment may tap into recoveries from creditors as it builds its war chest for the Rs 2,237-crore fund infusion into the firm, sector analysts said.
On Monday, Zee’s promoters said they were raising their stake to 18.39% from nearly 4% in the company as they sought to accelerate the firm’s growth plans. The promoters would subscribe to a preferential issue of nearly 170 million fully-convertible warrants at Rs 132 apiece, the media company said, as part of the fund infusion plan that was recommended by investment banker JP Morgan.
