Zee Entertainment allots 20.94 crore warrants to promoter entity; stake could rise to 17.90%

Zee Entertainment Enterprises has allotted over 20.94 crore convertible warrants to a Mauritius-based promoter group entity, a move that could eventually raise the founding family’s shareholding in the company to nearly 18%. The allotment, disclosed to the exchanges, followed months of regulatory clearances and a tribunal order that cleared the way for the deal.

Zee Entertainment allots 20.94 crore convertible warrants at Rs 126 each

According to the company’s filing with the BSE and NSE, the Preferential Issue and Allotment Committee approved the allotment of 20,94,47,805 fully convertible warrants to Sunbright Mauritius Investments, a promoter group entity. Each warrant carries an issue price of Rs 126, split between a subscription price of Rs 31.50 and an exercise price of Rs 94.50, as per the filing.