Stock Market Today: Zee Media Corporation share price (NSE: ZEEMEDIA) was in the news on Thursday as it has announced the redemption of NCDs (non-convertible debentures) worth ₹230 crore. The stock is already in the news in connection with its fund raising plans
- Bitcoin in 2025: Risk or opportunity for the loyal investors?
- DMart Q3 results: Avenue Supermarts net profit rises 4.7% to ₹723 crore, revenue jumps 17.6%
- Copper Set for Strong Weekly Gain
- MCX Copper futures trade higher on robust Demand
- Aluminium futures trade higher on positive international rates
On January 15, 2025, after market close, Zee Media Corporation announced that it has made full payment towards the redemption of non-convertible debentures worth Rs. Two Hundred and Thirty Crores only.
NCD Redemption
According to the release issued by Zee Media Corporation “In respect of the issuance and allotment of 2300 (two thousand three hundred) unrated, unlisted, secured, redeemable non-convertible debentures (‘NCDs’) each having a face value of Rs. 10,00,000/- (Rupees Ten Lakhs only), for cash consideration of Rs. 10,00,000/-. ₹2,30,00,00,000/- (Two Hundred Thirty Crores only), we wish to inform you that the Company has made full payment towards the redemption of the said NCDs today i.e., January 15, 2025.
Zee Media Fund Raising Plans
Zee Media was also in the news this week for its fund raising plans. The Board of Directors of Zee Media Corporation on Monday, January 13, had approved exploring options available to the Company to raise funds up to ₹400 crore.
The Company plans to explore all permissible options and instruments including issuance of equity shares/convertible bonds/debentures/warrants/preference shares/foreign currency convertible bonds (FCCBs)/any other equity linked securities and/or any other securities by way of preferential issue on private placement basis, qualified institutional placement or any other mode or a combination of them, listed or unlisted, for an amount not exceeding Rs 10 lakh. ₹ 400 crores, in one or more tranches
Additionally, the Board of Directors has also authorized the increase in the shareholding limit for Foreign Portfolio Investors (also referred to as “FPIs”) and Foreign Institutional Investors (also referred to as “FILs”) from 24% to 49% of the paid-up share capital of the Company, subject to shareholder approval.
