Zee Media Raises 200 crore, Causing its Stock to surge 10% and reach a 52-week High

UNICO Global Opportunities Fund Limited, AL Maha Investment Fund PCC - Onyx Strategy, and Ebisu Global Opportunities Fund Limited are the allottees for the warrants issue, all classified as FPIs in the Non-Promoter/Non-Promoter Group category. On Friday, September 27, shares of Zee Media Corporation were locked at the 10% upper circuit limit, reaching a 52-week high of 20.75 per share. The media company's stock has experienced a significant increase in both volume and price recently, climbing 55% over the past five days. This surge followed the board's approval of a 200 crore fundraising plan.

Zee Media fund raise plan

During the board meeting on September 27, 2024, Zee Media Corporation approved a fundraising proposal to issue 13,33,33,333 warrants on a preferential basis at an issue price of 15 per warrant, totaling 200 crore. These warrants are fully convertible or exchangeable. The allottees for the warrants issue include UNICO Global Opportunities Fund Limited, AL Maha Investment Fund PCC - Onyx Strategy, and Ebisu Global Opportunities Fund Limited, all of which are FPIs in the Non-Promoter/Non-Promoter Group category. "The right attached to Warrants may be exercised by the Warrant holder, in one or more tranches, at any time on or before the expiry of 18 months from the date of allotment of the Warrants. In the event the Warrant holder does not exercise the right attached to the Warrant(s) within 18 months from the date of allotment of the Warrants, such unexercised Warrant(s) shall lapse and the amount paid to the Company at the time of subscription of such unexercised Warrant(s) shall stand forfeited," the company said in a filing.

Zee Media Q1FY25 earnings

Zee Media Corporation reported that its income from operations for the period between April-June stood at Rs 126.15 crore. The net loss for the period raised to Rs -14.48 crore. The Earnings Per Share (EPS) for Q!FY25 stood at Rs -0.23 per share. EPS indicates how much money a company earns on each stock. 

Zee Media share price history 

Shares of Zee Media Corporation have given good returns in the past few months. As of September 27, the stocks surged 57.18 percent in the past two weeks. The one-month return of the stocks remains at 48 percent. In 2024, shares are up 27 percent on the YTD basis as per BSE analytics. The one and three year return of the stocks stood at 62.61 percent and 60.22 per cent respectively. 

Zee Media market cap As of September 27, Zee Media Corporation has a market capitalization of 1,294.64 crore, according to BSE analytics. The stock's 52-week performance shows a high of 20.70 and a low of  10 per share.