Zee Entertainment shares gain 1% as company seeks one-day extension for warrant subscription
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Zee Entertainment shares gain 1% as company seeks one-day extension for warrant subscription
The additional infusion could allow promoter group entity Sunbright Mauritius Investments to subscribe to warrants corresponding to up to 2.4 crore shares.
The stock of Zee Entertainment was trading at Rs 105.91 on the NSE at 10:20 am, up Rs 1.09, or 1.04 percent.
Zee Entertainment shares were trading higher in morning trade on Wednesday as the company seeks an additional one-day extension from the Securities Appellate Tribunal (SAT) to complete the subscription to warrants by its promoter entity.
The stock was trading at Rs 105.91 on the NSE at 10:20 am, up Rs 1.09, or 1.04 percent.
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The latest development comes after Zee Entertainment allotted 20.94 crore fully convertible warrants to promoter group entity Sunbright Mauritius Investments on August 21. The warrants were issued at Rs 126 apiece, taking the total issue size to around Rs 2,639 crore. Sunbright Mauritius paid 25 percent of the warrant issue price, or Rs 31.50 per warrant, amounting to Rs 659.76 crore.
The warrants can be converted into equity shares in one or more tranches within 18 months of allotment, upon payment of the remaining Rs 94.50 per warrant. Upon full conversion, Sunbright Mauritius, which held no shares in Zee Entertainment before the allotment, would hold a 17.90 percent stake in the company on a fully diluted basis.
The allotment followed approvals from the company’s extraordinary general meeting, the NSE and BSE, and SAT. Zee Entertainment had initially sought to issue up to 24.95 crore warrants, aggregating up to Rs 3,143.52 crore.
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The company has now approached SAT again, seeking a one-day extension to complete the warrant subscription, with around Rs 76 crore reportedly in transit, promoter entity to subscribe to warrants corresponding to up to 2.4 crore shares, potentially increasing its stake by around 2 percentage points
SAT is likely to hear the matter on Thursday. Earlier, the tribunal had granted Zee Entertainment a one-week extension for the warrant subscription after the company sought two weeks.
Moneycontrol News
first published: Aug 26, 2026 10:29 am
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