Latest news with #ShubhamShree
Time of India
5 days ago
- Business
- Time of India
Zee to raise Rs 2,200 crore from promoter group entities
MUMBAI: In its first major fundraising effort since the collapse of its merger with Sony Pictures India, will raise Rs 2,237 crore from its promoters to finance its growth plans. The company plans to issue up to 16.95 crore convertible warrants at Rs 132 each to Altilis Technologies and Sunbright Mauritius Investments, companies owned by promoters Subhash Chandra and his family, in one or more tranches. Tired of too many ads? go ad free now Once the warrants are converted into equity within 18 months from the date of allotment, Subhash Chandra and his family's ownership in the broadcaster will increase significantly to 18.39% from 3.99% as of March-end 2025. This will be an important event in Zee's history as the founding family strengthens its control over the company, which has faced takeover threats in the past. The method by which the family is raising Rs 2,237 crore has not been disclosed. Zee's fund-raising initiative comes at a time when it is working to stabilise operations and focus on digital growth after implementing various strategies such as cost-cutting, staff reductions, and investment in new content following the fallout from last year's failed merger with Sony Pictures India. Zee is now looking to build its core business and invest in emerging segments like micro-drama app Bullet. The company has scheduled a shareholder meeting on July 10 to seek approval for the issuance of warrants to its promoters. The warrants are priced higher than the regulatory price of Rs 128.58 each, with the current Zee stock trading at Rs 138 per share. This fundraising plan follows a review of Zee's growth strategies by investment bank JP Morgan, which presented various strategic alternatives to augment and strengthen the company's balance sheet. After considering these alternatives, Zee's board approved the issuance of upto 16.95 crore convertible warrants to promoter group entities on a preferential basis at Rs 132 per warrant. Tired of too many ads? go ad free now Shubham Shree, representing the promoter group, said: "The promoters submitted their desire to enhance their shareholding to the board on May 1 when the stock price was at Rs 106.35. However, they remain committed to the company and its business even at the higher price (of Rs 132 per warrant)."
Time of India
5 days ago
- Business
- Time of India
Zee Entertainment shares in focus on plans to raise Rs 2,237 crore from promoters via convertible warrants
Zee Entertainment Enterprises (ZEE) shares will be in focus on Tuesday after the company's board approved a Rs 2,237.44 crore capital infusion from promoter group entities through a preferential issue of convertible warrants . The board has cleared the issuance of up to 16.95 crore fully convertible warrants at Rs 132 per warrant — a premium to SEBI's minimum price of Rs 128.58 — on a preferential basis. This move, subject to shareholder approval, will raise the promoter group's stake in the company to 18.39%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Discover Effortless Glucose Monitoring: Request a Free Trial Dexcom Click Here Undo 'The Board insisted on a higher price and the promoters agreed to pay Rs 3.42 more per warrant,' the company said in a statement. Ads By Google Ad will close in 28 Skip ad in 3 Skip Ad Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months The decision followed two board meetings held on Monday. In the first, investment bank J.P. Morgan India Pvt. Ltd. presented a detailed review of ZEE's growth strategy, discussing new initiatives and market sentiment. During the second meeting, the Board considered various strategic options and subsequently approved the promoter group's capital infusion to bolster the company's balance sheet. Live Events Also Read: Technical picks: Max Healthcare Institute, 360 ONE among 6 stocks that can rally up to 14% in near term Commenting on the development, R. Gopalan, Chairman of ZEE, said: 'The Board has deliberated upon the various alternatives discussed with J.P. Morgan and has conducted a thorough evaluation of the company's growth plans. The Board believes that the steps being implemented to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan. 'The media and entertainment sector is evolving rapidly, leading to a shift in consumer preferences across the entertainment landscape. The investment by the promoters, coupled with the strong, ambitious growth initiatives planned by the management team, will ensure that ZEE remains well-positioned to accelerate its strategic plans to achieve its targeted aspirations.' Shubham Shree, speaking on behalf of the promoter group, said the intention to increase their shareholding was conveyed to the Board on 1 May 2025, when ZEE's share price was ₹106.35. 'They are committed to the company and its business even at this higher price,' he stated. Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside Previously, at a Board meeting held on 1 May, ZEE had approved the incorporation of three wholly owned subsidiaries as part of its business diversification strategy. On 8 May, the company also released a detailed investor presentation outlining its approved growth roadmap. At that meeting, the Board recommended appointing an investment banker to further assess the company's future strategy. As part of its transition into a leading content and technology powerhouse, ZEE has undertaken multiple initiatives to enhance its core operations and invest in high-potential emerging segments. The company recently announced a strategic investment in Bullet, a new-age content and tech start-up, to launch a micro-drama app aimed at younger audiences. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
6 days ago
- Business
- Business Standard
Zee to raise over ₹2K cr from preferential issue of convertible warrants
Zee Entertainment Enterprises (ZEEL) will raise over Rs 2,237 crore from the preferential issue of convertible warrants, as its board of directors on Monday approved the promoters increasing their shareholding in the company. These warrants are proposed to be allotted to Altilis Technologies or Sunbright Mauritius Investments, according to the stock exchange filing. The promoters' shareholding in ZEEL will rise to 18.39 per cent from 3.99 per cent. 'In a second board meeting held later in the day, the board of directors considered the various alternatives discussed by JP Morgan and, after due deliberations, adopted and approved the enhancement of promoter shareholding by issuance of up to 16,95,03,400 fully convertible warrants to the promoter group entities on a preferential basis, at Rs 132 per warrant. The promoters of the company will participate in the fundraising exercise by investing Rs 22,37,44,48,800 (Rs 2,237.4 crore) for the company's next phase of growth, taking the total promoter shareholding to 18.39 per cent. The preferential issue is subject to shareholders' approval,' it said in a statement. Before this, the promoter and promoter group, led by Essel Group's Chairman Emeritus of ZEEL, Subhas Chandra, and his family, held 3.99 per cent of the shareholding in the company, according to the Bombay Stock Exchange (BSE). Its shares closed at Rs 138.25, up by 0.68 per cent, on NSE. Shubham Shree, on behalf of the promoter group, was quoted saying, 'The promoters submitted their desire to enhance their shareholding to the board on 1 May when the stock price was at Rs 106.35; however, they are committed to the company and its business even at this higher price.' The Mumbai-based broadcaster also had another meeting with JP Morgan, an investment bank, it stated in its release, where the latter presented an assessment of the company's growth plans and strategic initiatives and also discussed the market perception of the stock and potential alternatives with the board, ZEEL said. R Gopalan, Chairman, ZEEL, said in a statement that the board had deliberated upon the various alternatives discussed with JP Morgan and conducted a thorough evaluation of the company's growth plans. 'The board believes that the steps being implemented to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan. The investment by the promoters, coupled with the strong, ambitious growth initiatives planned by the management team, will ensure that 'Z' (the new brand logo) remains well-positioned to accelerate its strategic plans to achieve its targeted aspirations,' he added. This comes a month after the company announced its rebranding process and a new phase of growth backed by its focus on content and technology, and its long-term vision around ZEEL's performance and profitability. These steps follow the company implementing several cost-cutting measures in FY25, after Punit Goenka, Chief Executive Officer (CEO), ZEEL, said in the earnings call for the January–March quarter that there is no room for cost-cutting right now for the expansion of its EBITDA margin. In June, the company also announced a strategic equity partnership with content and technology start-up Bullet, where ZEEL is expected to either invest or acquire a stake in the platform, it had stated in the stock exchange filing. Bullet developed India's first micro-drama application focused on fast-paced, creator-driven content through short-duration vertical format episodes targeted towards younger audiences.
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Business Standard
6 days ago
- Business
- Business Standard
Zee to raise Rs 2,237 crore via warrants; promoter stake to hit 18.39%
Zee Entertainment Enterprises (ZEEL) will raise over Rs 2,237 crore from the preferential issue of convertible warrants, as its board of directors on Monday approved the promoters increasing their shareholding in the company. These warrants are proposed to be allotted to Altilis Technologies or Sunbright Mauritius Investments, according to the stock exchange filing. The promoters' shareholding in ZEEL will rise to 18.39 per cent from 3.99 per cent. 'In a second board meeting held later in the day, the board of directors considered the various alternatives discussed by JP Morgan and, after due deliberations, adopted and approved the enhancement of promoter shareholding by issuance of up to 16,95,03,400 fully convertible warrants to the promoter group entities on a preferential basis, at Rs 132 per warrant. The promoters of the company will participate in the fundraising exercise by investing Rs 22,37,44,48,800 (Rs 2,237.4 crore) for the company's next phase of growth, taking the total promoter shareholding to 18.39 per cent. The preferential issue is subject to shareholders' approval,' it said in a statement. Before this, the promoter and promoter group, led by Essel Group's Chairman Emeritus of ZEEL, Subhas Chandra, and his family, held 3.99 per cent of the shareholding in the company, according to the Bombay Stock Exchange (BSE). Its shares closed at Rs 138.25, up by 0.68 per cent, on NSE. Shubham Shree, on behalf of the promoter group, was quoted saying, 'The promoters submitted their desire to enhance their shareholding to the board on 1 May when the stock price was at Rs 106.35; however, they are committed to the company and its business even at this higher price.' The Mumbai-based broadcaster also had another meeting with JP Morgan, an investment bank, it stated in its release, where the latter presented an assessment of the company's growth plans and strategic initiatives and also discussed the market perception of the stock and potential alternatives with the board, ZEEL said. R Gopalan, Chairman, ZEEL, said in a statement that the board had deliberated upon the various alternatives discussed with JP Morgan and conducted a thorough evaluation of the company's growth plans. 'The board believes that the steps being implemented to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan. The investment by the promoters, coupled with the strong, ambitious growth initiatives planned by the management team, will ensure that 'Z' (the new brand logo) remains well-positioned to accelerate its strategic plans to achieve its targeted aspirations,' he added. This comes a month after the company announced its rebranding process and a new phase of growth backed by its focus on content and technology, and its long-term vision around ZEEL's performance and profitability. These steps follow the company implementing several cost-cutting measures in FY25, after Punit Goenka, Chief Executive Officer (CEO), ZEEL, said in the earnings call for the January–March quarter that there is no room for cost-cutting right now for the expansion of its EBITDA margin. In June, the company also announced a strategic equity partnership with content and technology start-up Bullet, where ZEEL is expected to either invest or acquire a stake in the platform, it had stated in the stock exchange filing. Bullet developed India's first micro-drama application focused on fast-paced, creator-driven content through short-duration vertical format episodes targeted towards younger audiences.
Economic Times
6 days ago
- Business
- Economic Times
Promoters to inject Rs 2,237 crore into Zee as board backs growth plan
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Board of Directors of Zee Entertainment Enterprises (ZEE) has approved the issuance of up to 16.95 crore fully convertible warrants to promoter group entities on a preferential basis at ₹132 per warrant, raising a total of ₹2 ,237.44 crore. The move is aimed at strengthening the company's financial base and accelerating its strategic ambitions in the content and technology preferential allotment, which is subject to shareholder approval, will raise the promoter group's stake to 18.39%. Notably, the issue price exceeds the SEBI-prescribed minimum of ₹128.58 per warrant. 'The Board insisted on a higher price and the promoters agreed to pay ₹3.42 more per warrant,' the company decision followed two board meetings held earlier in the day. In the first, investment bank J.P. Morgan India Pvt. Ltd. presented a detailed review of ZEE's growth strategy, discussing new initiatives and market sentiment. During the second meeting, the Board considered various strategic options and subsequently approved the promoter group's capital infusion to bolster the company's balance on the development, R. Gopalan, Chairman of ZEE, said: 'The Board has deliberated upon the various alternatives discussed with J.P. Morgan and has conducted a thorough evaluation of the company's growth plans. The Board believes that the steps being implemented to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan.'The media and entertainment sector is evolving rapidly, leading to a shift in consumer preferences across the entertainment landscape. The investment by the promoters, coupled with the strong, ambitious growth initiatives planned by the management team, will ensure that ZEE remains well-positioned to accelerate its strategic plans to achieve its targeted aspirations.'Shubham Shree, speaking on behalf of the promoter group, said the intention to increase their shareholding was conveyed to the Board on 1 May 2025, when ZEE's share price was ₹106.35. 'They are committed to the company and its business even at this higher price,' he at a Board meeting held on 1 May, ZEE had approved the incorporation of three wholly owned subsidiaries as part of its business diversification strategy. On 8 May, the company also released a detailed investor presentation outlining its approved growth roadmap. At that meeting, the Board recommended appointing an investment banker to further assess the company's future part of its transition into a leading content and technology powerhouse, ZEE has undertaken multiple initiatives to enhance its core operations and invest in high-potential emerging segments. The company recently announced a strategic investment in Bullet, a new-age content and tech start-up, to launch a micro-drama app aimed at younger audiences.
