Zee Media share price in focus as it redeems Non-Convertible Debentures worth ₹230 crore | Stock Market News

Stock Market Today: Zee Media Corporation share price remains in focus on Thursday as it has announced redemption of NCD’s (Non-Convertible Debentures) worth ₹230 crore. The stock already remains in news with regards to its fund raising plans

The Zee Media Corporation on 15 January, 2025, post market hours has anounced that it has made the full payment towards the redemption of Non-Convertible Debentures worth rupees Two Hundred and Thirty Crores only.

NCD Redemption

As per the release by Zee Media Corporation “ with respect to issue and allotment of 2300 (Two Thousand Three Hundred) unrated, unlisted, secured, redeemable Non-Convertible Debentures (‘NCDs’) bearing a face value of Rs. 10,00,000/- (Rupees Ten Lakh only) each, for cash at par, aggregating to Rs. 2,30,00,00,000/- (Two Hundred and Thirty Crores only), we wish to inform you that the Company has made the full payment towards the redemption of the said NCDs today i.e. January 15, 2025”.

Zee Media Fund Raising Plans

Zee Media has remained in news this week on its fund raising plans too. The Zee Media Corporation’s Board of Directors on Monday 13 January had  approved he company exploring available options for raising of funds to the tune of up to ₹400 crore. 

The company plans exploring all all permitted ptions and instruments, including issuance of equity shares/ convertible bonds/debentures/ warrants/ preference shares/ foreign currency convertible bond (FCCB) / any other equity linked securities and/ or any other securities including through preferential issue on a private placement basis, qualified institutional placement or any other methods or combinations thereof, listed or unlisted, for an amount not exceeding Rs. 400 crores, in one or more tranches

Zee Media approves raising FPI share holding limit

Additionally, the Board of Directors also had authorized raising the shareholding limits for Foreign Portfolio Investors (also known as “FPIs”and Foreign Institutional Investors (also known as “FIls”) from 24% to 49% of the company’s paid-up share capital, subject to shareholder approval.

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