Zee calls July 31 EGM to seek nod for Rs 3,143.5 crore warrant issue
MUMBAI: Zee Entertainment Enterprises has called an extraordinary general meeting (EGM) on July 31 to seek shareholder approval for a Rs 3,143.5 crore preferential issue of fully convertible warrants to promoter group entity Sunbright Mauritius Investments Ltd and a new employee stock option plan.
The company plans to issue up to 24.95 crore warrants at Rs 126 apiece. The warrants can be converted into equity shares within 18 months, with the investor paying 25% upfront and the remaining 75% at the time of conversion.
