Zee clears Rs 2,300 crore fund raise after securing FIFA World Cup rights
Zee Entertainment on Wednesday said its board of directors had approved raising capital of a minimum Rs 2,300 crore in one or more tranches to fund the company’s strategic and business initiatives. The fund-raising plans comes a week after the company picked up the FIFA media rights for eight years for around $30-35 (Rs 280-330 crore).
The company said the board would deliberate further on the available options for raising funds without specifying details. The fundraising proposal comes amid heightened investor interest in the company’s capital allocation plans.
