ZEEL to raise Rs 1,997-cr funds with foreign currency convertible bonds
As per media reports, the funds will be raised from Resonance Opportunities Fund, St. John's Wood Fund Limited and Ebisu Global Opportunities Fund
The Rs 1,997-crore funding for Zee Entertainment Enterprises Ltd (ZEEL) will come from Resonance Opportunities Fund, St. John's Wood Fund Limited and Ebisu Global Opportunities Fund, media networks have reported.
The funds will be raised by issuing foreign currency convertible bonds, a report said.
e4m reported on June 6 that in order to enhance its strategic flexibility to pursue growth opportunities in the evolving media landscape, ZEEL has approved a fund-raising of Rs 2000 crore by way of issuance of equity shares and/or any other eligible securities.
ZEEL had then informed BSE that the Board of Directors of the Company had given its in-principle approval for raising funds.
“This will enable the company to enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape,” the statement said.
