Zee Media Corporation Limited has approved a structured capital infusion plan worth up to Rs.119 crore through the issuance of convertible warrants on a preferential basis. The move is aimed at strengthening the company’s financial position and supporting its future expansion plans, especially in the digital news and broadcasting space.

According to a BSE note issued yesterday, the board of directors has cleared the issuance of up to 14 crore warrants at a price of Rs.8.50 per warrant. Each warrant will be convertible into one fully paid-up equity share of the company with a face value of Rs.1, carrying a premium of Rs.7.50 per share.

The company said investors subscribing to the warrants will be required to pay 25 per cent of the total amount upfront at the time of allotment, while the remaining 75 per cent will be payable at the time of conversion into equity shares. The warrants can be converted within 18 months from the date of allotment. Any warrants that remain unexercised after the stipulated period will lapse, and the initial upfront payment will stand forfeited.

The preferential issue will be allotted exclusively to entities falling under the public and non-promoter category. The company has identified three Foreign Portfolio Investors as allottees for the proposed fundraise. These include Magnifica Global Opportunities VCC-MGO High Conviction Fund, Minerva Ventures Fund and Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund.

Upon full conversion of the warrants, and subject to the exercise of other outstanding convertible instruments, the shareholding of these institutional investors is expected to rise significantly, providing the broadcaster with a stronger institutional equity base.

In another important development, the board also approved the reappointment of Swetha Gopalan as an Independent Director for a second consecutive term of five years. Her new tenure is scheduled from August 1, 2026, to July 31, 2031.

The company has stated that both the preferential warrant issue and the reappointment of the independent director are subject to regulatory approvals and shareholder consent. To seek the necessary approvals, Zee Media has scheduled an Extraordinary General Meeting on June 13, 2026, which will be conducted virtually through video conferencing.