Zee Media may issue equity-linked securities to promoters
Move follows a proposal from a promoter group entity to invest more in the company, according to media reports
Zee Media Corporation Limited has reportedly said that its board will consider issuing equity-linked securities to its promoters as there has been a proposal from a promoter group entity to invest more in the company.
According to media reports, Zee Media, in a regulatory filing, has said that in its board meeting scheduled to be held on November 12 “shall also be considering the proposal to issue equity shares or equity-linked securities warrants convertible into equity shares of the company.”
This would be in one or more tranches, to a Promoter Group entity on a preferential basis, as the Board may deem appropriate, it reportedly added.
The move will be subject to approval.
