Small Cap Stock Below Rs 20: Zee Media Eyes Fundraising Via Equity, Bonds/Debentures – Board Meet On April 8

In contrast to the previous closing of Rs 13.48, Zee Media Corporation's shares began higher on the NSE on Friday at Rs 13.60. The company's market value was Rs 820 Cr. This followed Zee Media Corporation's announcement on Thursday that a meeting of the company's board of directors is planned for Tuesday, April 8, 2025 to review and approve the proposal for fund-raising through multiple avenues.

"Notice is hereby given that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, April 8, 2025, inter alia, to consider and approve the proposal for fund raising through the issuance of equity shares / convertible bonds / debentures / warrants / preference shares / any other equity linked securities ("Appropriate Securities") through permissible modes, including but not limited to a private placement, preferential issue, or any other method or combination of methods, subject to such regulatory/statutory approvals, as may be required," Zee Media said in a stock exchange filing on Thursday.

"Further, as informed by communication dated March 27, 2025, the trading window for dealing in securities of the Company has been closed from April 1, 2025, and shall remain closed till expiry of 48 hours after the declaration of Annual Audited financial results of the Company for the Financial year 2024-25," Zee Media further informed stock exchanges on 3rd April.

On January 13, Zee Media Corporation Ltd. announced that its board of directors had approved a strategy to raise funds up to Rs 400 crore through a variety of instruments, such as equity shares, convertible bonds, debentures, warrants, preference shares, and foreign currency convertible bonds (FCCBs). The board also approved an initiative to raise the stake limits for foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) from 24% to 49% of the paid-up share capital.

Based on the Audit Committee's recommendation, the company's Board of Directors recently reviewed and approved the re-appointment of S S Kothari Mehta & Co. LLP, a practicing chartered accountant, as the Internal Auditor of the company for the Financial Year 2025-2026 at its meeting on March 31, 2025.

The company recorded net sales of Rs 159.45 crore in the December 2024 quarter, dropping 4.7% from Rs 167.31 crore in the December 2023 quarter, according to data from Moneycontrol. In the December 2024 quarter, the firm recorded a net loss of Rs. 22.42 crore, dropping 37.57% from the December 2023 quarter's net loss of Rs. 35.91 crore. EBITDA dropped 135.16% from Rs. 22.24 crore in Q3FY24 to Rs. 7.82 crore in Q3FY25.

Mumbai is home to the popular Indian media and news broadcasting corporation Zee Media Corporation Limited (ZMCL), formerly known as Zee News Limited. As a member of the Essel Group, Zee Media Corporation is traded under the ticker symbol 532794 on the Bombay Stock Exchange (BSE) and ZEEMEDIA on the National Stock Exchange (NSE). Subhash Chandra, the founder of Zee Entertainment Enterprises and Essel Group, is also the founder of Zee Media Corporation.