Zee Media Corporation Limited Board Approves Issuance of Warrants and Re-appoints Independent Director
Zee Media Corporation Limited announced that its Board of Directors, at a meeting held on May 18, 2026, approved two major corporate actions: the issuance of warrants and the re-appointment of Ms. Swetha Gopalan as an Independent Director. The company also scheduled an Extra-Ordinary General Meeting (EGM) to seek shareholder approval for these proposals.Warrants Issuance Details
The Board approved the issuance of up to 14,00,00,000 warrants. Each warrant is fully convertible or exchangeable for one fully paidup equity share of the Company. The total aggregate value of the warrants not exceeding Rs. 1,19,00,00,000/-.Key financial details of the warrant issuance are summarized below:
| Parameter | Details |
|---|---|
| Warrant Quantity | Up to 14,00,00,000 (Fourteen Crores Only) |
| Issue Price per Warrant | Rs. 8.50/- (Rupees Eight point Five zero Only) |
| Aggregate Value | Not exceeding Rs. 1,19,00,00,000/- |
| Conversion Price | Rs. 8.50/- per Equity Share (including a premium of Rs. 7.50/-) |
| Allottees Category | Public Category (Non-promoter / Non-Promoter Group) |
| Payment Timeline | Funds must be paid within 18 months from the date of allotment. |
The warrants will be allotted to entities in the Public Category, including 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.
Independent Director Re-appointment
Separately, the Board approved the re-appointment of Ms. Swetha Gopalan (DIN: 09167355) as an Independent Director for her second term. This decision followed the recommendation of the Nomination and Remuneration Committee.Ms. Gopalan's tenure will run for five consecutive years, starting from August 1, 2026, and concluding on July 31, 2031. The Board noted that Ms. Gopalan is not debarred from holding the office of Director by any authority.
In terms of her professional background, Ms. Gopalan holds a Bachelor of Technology degree in Industrial Biotechnology from Anna University and an MBA degree from the Kellogg School of Management, USA. She also possesses a Certification in Quantitative Finance from FITCH. She began her professional career in 2010 with Johns Hopkins Medicine International, USA.
Shareholder Approval Required
To formalize these actions, the company issued a notice calling an Extra-Ordinary General Meeting (EGM) on Saturday, June 13, 2026. The purpose of the EGM is to seek the shareholders' necessary approval for both the issuance of the warrants and the re-appointment of Ms. Swetha Gopalan.ZEEMEDIA Stock Price Movement
Zee Media Corporation Limited shares today slipped by 3.54% to settle at ₹7.67. The stock traded on a volume of 571,839 shares.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.