Zee Media board approves Rs 400 crore fundraising plan; raises FPI limits

New Delhi: Zee Media Corporation has increased its foreign investment ceiling from the existing 24% to 49%. With this decision taken by the board of directors of ZMCL, the company can have an influx of a maximum of Rs 400 crore, in one or more tranches. 

As per the development reflected on the Bombay Stock Exchange, Zee Media’s directors met on January 13, 2025. In the filing, ZMCL pointed out exploring various options for raising funds, “including but not limited to,” equity shares, convertible bonds, and foreign currency bonds (FCB), among others “for an amount not exceeding Rs 400 crores.” 

In addition, the media corporation noted, “The board of directors has approved increasing the shareholding limits for Foreign Portfolio Investors ('FPIs') and Foreign Institutional Investors ('FIls') from 24% to 49% of the paid-up share capital of the Company under the overall permissible limit of 49%.”