Zee Entertainment Enterprises (‘Z’) has secured shareholder approval at an Extraordinary General Meeting (EGM) to issue fully convertible warrants to a promoter group entity on a preferential basis. Shareholders also approved the ‘Truly Yours’ Employee Stock Option Plan (ESOP) for employees across Zee and its subsidiaries.
Under the approved resolution, Zee will issue 24,94,85,563 warrants to the promoter group entity at Rs 126 per warrant, translating into a promoter investment of Rs 3,143.5 crore. Once fully converted, this will raise total promoter shareholding in the company to 23.79%.
Alongside the capital raise, the company will roll out the ‘Truly Yours’ ESOP, granting 3,74,22,835 stock options – each with a face value of Re 1 – to eligible employees across Zee and its subsidiaries, to be issued in one or more tranches.
The company said the approvals mark a significant step in strengthening its financial foundation and reflect continued shareholder confidence in its long-term growth strategy. It added that access to enhanced growth capital will support investment in new strategic avenues as well as its existing business segments, while stronger promoter alignment will support leadership continuity.
R. Gopalan, Chairman, Zee Entertainment Enterprises, thanked shareholders for their support, calling it a clear endorsement of the company’s management and strategic direction. He said the combination of fresh promoter capital and the ESOP rollout would strengthen the company’s competitiveness and drive higher accountability and innovation among its workforce, positioning Zee on firmer footing to execute its future growth plans.
