Zee to invest Rs 50 crore in ZBullet, Rs 40 crore in Advance Media Distribution

New Delhi: Zee Entertainment Enterprises (ZEEL) announced board approval for a Rs 90 crore investment across two newly incorporated subsidiaries: ZBullet Enterprises and Advance Media Distribution.

According to the company’s exchange filing, Zee will invest up to Rs 50 crore in ZBullet and Rs 40 crore in Advance Media through optionally convertible debentures (OCDs). 

Both subsidiaries are in early stages and yet to begin commercial operations.

Incorporated on June 12, ZBullet has been set up to launch ‘Bullet’, a micro-drama app offering short-form episodic content aimed at younger digital audiences. 

Meanwhile, incorporated on June 28, Advance Media will enter the distribution space, offering a unified service that includes linear TV, broadband, and OTT aggregation.

Zee stated the investments will support working capital, capital expenditure, and general business needs. 

Both companies are classified as related parties, but the transactions are being executed on an arm’s length basis. Promoters are not involved in the investments.