Zee allots Rs 2,639 cr warrants to promoter entity, gets Rs 660 cr upfront

Zee Entertainment Enterprises Ltd raised Rs 660 crore through convertible warrants to a promoter group entity. Sunbright Mauritius Investments Ltd paid twenty-five percent upfront for these warrants. The company's promoter group holding will increase significantly after full conversion. This allotment follows approvals from various regulatory bodies and the Securities Appellate Tribunal. The preferential issue cleared a prolonged fundraise overhang due to past regulatory proceedings.