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Zee Media board approves issuance of warrants worth Rs164.70cr; Stock ends 1% higher

The company’s board approved the issuance of up to 13.50cr Warrants at a Price of Rs12.20/- per warrant on a Preferential issue basis.

November 12, 2021 4:28 IST | India Infoline News Service
IT Stocks Up
Zee Media Corporation Limited board on Friday has approved the issuance of up to 13.50cr Warrants at a Price of Rs12.20/- per Warrant, aggregating up to Rs164.70cr to Asian Satellite Broadcast Private Limited, an entity forming part of the Promoter Group of the Company, on Preferential issue basis. 

“The Warrant holder will have right to apply for and be allotted 1 fully paid equity share of the face value of Re1/- each of the Company at a price of Rs12.20/- per Equity Share (including premium of Rs11.20/- 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,” the company said in a filing.

Zee Media Corporation Ltd stock trade on Friday ended at Rs13.25 per piece up by Rs0.13 or 0.99% from its previous closing of Rs13.12 per piece on the BSE.

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