Zee Entertainment approves Rs 2,300 crore capital raise

Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said its board has approved a plan to raise a minimum of Rs 2,300 crore in one or more phases to fund strategic and business initiatives, as the broadcaster looks to strengthen its balance sheet and expand into newer growth areas.

In a stock exchange filing, the company said the board approved the capital raise at its meeting held on June 10. It, however, did not specify the route through which the funds would be raised.