Zee Media Corporation Limited announces fund raising through warrants issue

The Board of Directors of Zee Media Corporation Limited at their meeting held on November 12, 2021 approved the issuance of upto 13,50,00,000 Warrants at a Price of Rs. 12.20/- per Warrants, aggregating up to Rs. 164,70,00,000/- , with the right to Warrant holder to apply for and be allotted 1 fully paid Equity Share of the face value of Re. 1/- each of the Company at a price of Rs. 12.20/- per Equity Share (including premium of Rs. 11.20/- per Equity Share) for each Warrant, with the amount paid against each Warrant be adjusted against the issue price for the resultant Equity Share, within a period of 18 months from the date of allotment of the Warrants, to Asian Satellite Broadcast Private Limited, an entity forming part of the Promoter Group of the Company, on Preferential issue basis.

Shares of Zee Media Corporation Limited was last trading in BSE at Rs. 13.12 as compared to the previous close of Rs. 12.57. The total number of shares traded during the day was 888080 in over 1116 trades.

The stock hit an intraday high of Rs. 13.19 and intraday low of 12.21. The net turnover during the day was Rs. 11614967.00.

Source : Equity Bulls

Keywords

ZeeMediaCorporationLimited INE966H01019 ZEEMEDIA FundRaising PreferentialIssue Warrants