Zee Media Shares In Focus As FPIs Raise Their Stake With Investment Worth Rs 200 Cr

Shares of Zee Media Corporation Ltd (ZMCL) on Tuesday, increased by a full five percent upper circuit limits owing to the news which revealed that Foreign Portfolio Investors FPIs such as the Mauritius-based UNICO Global Opportunities Fund bought stakes into the Company.

The enabling offers to speak about the latest round of investment was with regards ZMCL's allotment of about 13.33 crore fully convertible warrants to three FPIs which are UNICO Global Opportunities Fund Limited, Ebisu Global Opportunities Fund Limited and AL Maha Investment Fund PCC - Onyx Strategy. Furthermore, on 7 November 2024 Board Directors resolved the 199.9 crore warrants amounting to 13,33,33,333 fully convertible with each priced at Rs 15 warrant subscription and exercise price in any country or countries so as to 159 these on preference.

As per the information provided by the Company in its regulatory filing with the Bombay Stock Exchange BSE, such allocations of these warrants were able to be accomplished as follows: 4.5 crore warrants each to United UNICO Global Opportunities Fund and Ebisu Global Opportunities Fund; while AL Maha Investment Fund PCC - Onyx Strategy was allowed provisions of 4.33 crore warrants.

ZMCL reported receiving 25 per cent of the warrant issue price or Rs 3.75 as a subscription price for 49.99 crores of the FPI warrant subscription price.

This warrant allotment allows these investors to exercise a part of their warrants over the stock option over the next 18 months to be converted into equity and therefore spelt out their faith in Zee Media in the foreseeable future.

A media leader in the Indian market since 1999, Zee Media Corporation Ltd owns and operates television news and viewership channels covering both a national and regional network through its operating facilities of 15 television channels. Besides on TV, ZMCL's online portal, zeenews.com, boasts over 280 million users over 9 languages providing the company valuable exposure. Recently, Zee News, which is their main Hindi news channel started making waves ranking 4th in terms of ratings with 58 million viewers, making it one of the top-rated channels of Hindi news.

To enhance audience engagement with the channel and provide quality content Zee News implemented measures such as "Ek Bharat Shreshtha Bharat" and the "Jaipuria Business and Leadership Conclave 2024". Apart from this, the company's other channels enjoy tremendous success in the region with Zee Bihar Jharkhand and Zee Rajasthan finishing second in their regional markets while Zee 24 Ghanta was also very popular during the period of Durga puja.

With 1.9 billion page views and 214 million monthly active users, Zee Digital greats almost the highest page in India and places ZMCL as the third news and information player in India.