Zee Entertainment Enterprises Ltd (ZEEL) has allotted 20.94 crore fully convertible warrants to its promoter group entity Sunbright Mauritius Investments Ltd on a preferential basis.

According to a regulatory filing by Zee Entertainment Enterprises Ltd,the allotment was approved by the company’s Preferential Issue and Allotment Committee on August 21, 2026, following shareholder approval and in-principle approvals from the NSE and BSE.

ZEEL has allotted 20,94… cr warrants at an issue price of Rs 126 per warrant. Sunbright Mauritius Investments has paid 25 percent of the issue price, or Rs 31.50 per warrant, amounting to around Rs 659.76 crore.

The remaining Rs 94.50 per warrant will be payable when the warrants are converted into equity shares. The allottee can seek conversion of the warrants in one or more tranches within 18 months from the date of allotment.

Each warrant can be converted into one fully paid-up equity share of ZEEL at an issue price of Rs 126 per share.ZEEL said that since the company has only allotted warrants at this stage, there is no change in its paid-up share capital currently.

The allotment follows a resolution passed by the ZEEL board on July 1 and a special resolution approved by shareholders at an Extraordinary General Meeting held on July 31. The company received in-principle approvals from the NSE and BSE on July 27 and also took note of the Securities Appellate Tribunal order dated August 14.