Zee Media Allots 14 Crore Convertible Warrants to Foreign Portfolio Investors at ₹8.50 per Warrant
Zee Media Corporation Limited has allotted 14,00,00,000 convertible warrants on a preferential basis to select Public Category Foreign Portfolio Investors (FPIs). The allotment was completed on June 25, 2026.The total issue price for the warrants is ₹ 8.50 per warrant, aggregating to an initial subscription revenue of ₹ 1,19,00,00,000.
The Warrants were allotted across three foreign portfolio investors: Magnifica Global Opportunities VCC-MGO High Conviction Fund Incorporated VCC Sub-Fund, Minerva Ventures Fund, and Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund (a sub-fund of Sun Alpha Global VCC).
A breakdown of the allotment to the three allottees is provided below.
| Investor Name | Category | Number of Warrants Allotted | Warrant Subscription Price Received |
|---|---|---|---|
| Magnifica Global Opportunities VCC-MGO High Conviction Fund Incorporated VCC Sub-Fund | Public Category - Foreign Portfolio Investors | 4,50,00,000 | ₹ 9,56,25,000 |
| Minerva Ventures Fund | Public Category - Foreign Portfolio Investors | 4,50,00,000 | ₹ 9,56,25,000 |
| Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund (a sub-fund of Sun Alpha Global VCC) | Public Category - Foreign Portfolio Investors | 5,00,00,000 | ₹ 10,62,50,000 |
| Total | 14,00,00,000 | ₹ 29,75,00,000 |
The Company received a subscription price equivalent to 25% of the Warrant Issue Price, totaling ₹ 29,75,00,000 from the allottees.
These warrants entitle the investors to seek conversion into equity shares in one or more tranches within a maximum period of 18 months from the allotment date (June 25, 2026). To exercise the right, Warrant Holders must pay the Warrant Exercise Price of ₹ 6.375 per warrant, which represents 75% of the Warrant Issue Price.
Upon conversion, one fully paidup Equity Share of the Company, having a face value of ₹ 1 per share and a premium of ₹ 7.50 per share (totaling ₹ 8.50), will be allotted against each Warrant. The amount paid during the subscription process will be adjusted against the issue price for the resulting Equity Share.
The allotment has resulted in no change in the Company's paid-up share capital at this stage.
ZEEMEDIA Stock Price Movement
As of 1:59 PM, shares of Zee Media Corporation Limited are slipping by 1.79% in live trading, currently at ₹8.24. The stock traded 537,563 shares during the session as the market remains active.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.
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