Zee Entertainment Announces Rs 600 Cr Share Buyback: Rediff Moneynews
Zee Entertainment Announces Rs 600 Cr Share Buyback
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Zee Entertainment’s board approves a Rs 600 crore share buyback of over 6.5 crore shares at Rs 91 each, aiming to deliver sustainable shareholder value.
Key Points
- Zee Entertainment’s board approved a share buyback of up to Rs 600 crore for over 6.5 crore shares.
- The shares will be acquired at Rs 91 per share, a 23.8% premium over the closing price.
- The buyback aims to deliver sustainable value to shareholders and reflects confidence in the company’s potential.
- Promoters and promoter group members will not participate in the proposed buyback.
- November 25, 2026, is set as the record date to determine eligible shareholders.
New Delhi, Nov 12 (PTI) Zee Entertainment Enterprises Ltd on Thursday said its board has approved a share buyback of more than 6.5 crore shares for up to Rs 600 crore.
The shares will be acquired at Rs 91 per share, Zee Entertainment Enterprises Ltd (ZEEL) said in a regulatory filing.
The buyback offer price of Rs 91 per share represents a premium of 23.8 per cent over the company’s closing share price of Rs 73.50 on Thursday. ZEEL’s stock touched a 52-week high of Rs 118.40 on June 23, 2026, and a 52-week low of Rs 60.63 on November 4, 2026, on an adjusted basis.
The board has “approved proposal for Buy Back of up to 6.59 crore fully paid-up equity shares of face value Rs 1 each of the Company of an amount not exceeding Rs 600 crore, being 7.22 per cent and 6.61 per cent of the aggregate of the total paid-up Equity Share capital and free reserves of the Company,” ZEEL said.
The company has set November 25, 2026, as the record date to determine which shareholders are eligible to participate in the proposed buyback.
“This is in line with its aspirations to consistently deliver sustainable value to shareholders,” the company said in a statement.
ZEEL will implement the buy-back through the tender offer route, further reaffirming its potential and abilities to drive higher value creation in the longterm, it added.
“The Board unanimously arrived at the proposal for buy-back of equity shares after a thorough deliberation of other key routes and the feedback shared by investors and shareholders,” it said.
The promoters and members of the promoter group have indicated they will not participate in the proposed buyback.
Commenting on the development, Chairman R Gopalan said, “The decision to approve the buy-back of equity shares reflects our confidence in the company’s potential and fundamental strength to capitalise on the opportunities in the future.”
The Board believes that the Company’s intrinsic value is not appropriately reflected in its current market valuation, and the buy-back represents a prudent opportunity to reinforce confidence in the Company’s capabilities to generate long-term value, he said.
Shares of Zee Entertainment Enterprises Ltd settled at Rs 73.50 on the BSE, up 3.7 per cent from the previous close.
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