Zee Entertainment Enterprises Approves Investment Up To Rs. 116 Crores in Phantom Digital Effects Limited
Zee Entertainment Enterprises Ltd (ZEEL) has approved an investment of up to Rs. 116 crores in Phantom Digital Effects Limited (Phantom). The investment will be made through the preferential allotment of Compulsorily Convertible Debentures (CCDs) in one or more tranches.The Board of Directors of Zee Entertainment Enterprises Ltd approved the transaction during a meeting held on April 17, 2026.
Focus on Strategic Content and Execution
The investment is framed as more than a purely financial transaction, establishing a strategic partnership. Zee is leveraging its strong content vision, intellectual property ownership, and distribution capabilities, while Phantom will provide a robust execution engine to enhance and accelerate these strengths.The objective of the investment aligns with the global shift toward premium, VFX-heavy OTT and film content. Phantom’s execution quality, visual realism, scale, and delivery timelines are critical factors in the evolving content ecosystem, supporting Zee's ambition for IP-led franchises.
Investment and Company Overview
Phantom Digital Effects Limited is a company engaged in post-production activities for the media and entertainment industry. Its services include visual effects (VFX) services, animation, digital intermediate, Interactives, and other allied creative services for both domestic and global markets.The key details concerning the target entity and the transaction are summarized below:
| Detail | Information |
|---|---|
| Target Entity | Phantom Digital Effects Limited (Phantom) |
| Paid-up Equity Capital | Rs. 15,92,28,000 (1,59,22,800 equity shares of Rs. 10 each) |
| Turnover for FY 25 | Rs. 1022 million |
| Industry | Media & Entertainment |
| Transaction Type | Investment in CCDs on a preferential allotment basis |
| Related Party Status | The acquisition does not fall under a related party transaction, and the promoter/promoter group/group companies have no interest in Phantom. |
Financial and Operational Details
The consideration for the investment will be cash consideration. The total cost of the acquisition is set at up to Rs. 116 Crores in the form of CCDs.Regarding control and shareholding, the investment will not change the shareholding or control at present. Any acquisition of shareholding will occur only upon conversion, subject to the agreed terms and conditions between the Company and Phantom.
| Financial Metric | Detail |
|---|---|
| Cost of Acquisition | Up to Rs. 116 Crores in the CCDs |
| Consideration Type | Cash consideration |
| Control/Shareholding | No change in shareholding or control at present |
Phantom was incorporated on February 2, 2016, in India. The company has demonstrated consistent growth, with its turnover over the last three years reaching the following levels:
| Fiscal Year | Turnover (Rs. in million) |
|---|---|
| FY 22-23 | Rs. 579 |
| FY 23-24 | Rs. 893 |
| FY 24-25 | Rs. 1022 |
ZEEL Stock Price Movement
Today, Zee Entertainment Enterprises Limited shares edged higher to close at ₹81.04, marking a solid 1.05% gain for the session. The equity showed considerable conviction today, trading on a substantial volume of 17.45 million shares.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.