Zee Media Corporation Limited has announced that its Board of Directors will convene on April 8, 2025, to deliberate on a proposal for raising funds through various equity-linked securities. This move is part of the company’s efforts to strengthen its financial position amid recent challenges.
Key Details of the Fundraising Proposal
Securities to be Issued: The proposal includes the issuance of equity shares, convertible bonds, debentures, warrants, preference shares, or other equity-linked securities through permissible modes such as private placement, preferential issue, or other methods, subject to regulatory approvals.
Financial Context: Zee Media has faced financial challenges, with a decline in consolidated operational revenue by 6% in the previous quarter ending December 31, 2024, to ₹160 crore. The company reported a net loss of ₹49.86 crore in the second quarter ending September 2024, reflecting a widening loss from the previous year.
Recent Developments
Leadership Changes: Dr. Idris Loya stepped down as interim CEO on March 31, 2025, handing over responsibilities to Karan Abhishek Singh. Dr. Loya will continue as a consultant.
Trading Window Closure: The trading window for dealing in Zee Media’s securities was closed from April 1, 2025, and will remain closed until 48 hours after the declaration of the company’s annual audited financial results for FY 2024-25.
The upcoming board meeting on April 8 is crucial for Zee Media as it seeks to address its financial challenges through strategic fundraising. The company’s ability to secure additional funds will be pivotal in supporting its operations and future growth initiatives.
Key Highlights:
- Zee Media’s Board of Directors will meet on April 8, 2025, to consider a fundraising proposal.
- The proposal involves issuing equity shares, convertible bonds, and other equity-linked securities.
- Zee Media faces financial challenges, including a decline in revenue and net losses.
- The company has closed its trading window until after the declaration of its FY 2024-25 financial results.