Zee Entertainment Enterprises said that its board has approved to raise Rs 1,997 crore by issuing foreign currency convertible bonds (FCCBs) to 3 investors on private placement basis.
The company will issue 5% coupon, unsecured, unlisted, foreign currency convertible (FCCBs) bonds up to $ 239,000,000 (Rs 1,997 crore) maturing in 10 years on a private placement basis to Resonance Opportunities Fund, St. Johns Wood Fund and Ebisu Global Opportunities Fund.The issue opened on Tuesday, 16 July 2024 and the company will issue FCCBs at floor price of Rs 152.45 per share. The company will issue 124,670,576 equity shares at conversion price of Rs 160.20 per equity share (including equity premium of Rs 159.20).
ZEEL is a media & entertainment company offering entertainment content to diverse audiences. It is present across broadcasting, movies, music, digital, live entertainment, and theatre businesses, both within India and overseas.
The company reported net profit of Rs 12.18 crore in Q4 FY24 as compared with net loss of Rs 72.89 crore in Q4 FY23. Revenue from operations increased 2.7% to Rs 2,169.9 crore in Q4 FY24 as compared with Rs 2112.1 crore in Q4 FY23.
The counter declined 2.87% to ends at Rs 155.45 on Tuesday, 16 July 2024. The domestic market is closed today on account of Moharram.
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