Zee Entertainment to redeem FCCBs of $23.90 mln on request of bond holders
This story was originally published at 11:08 IST on 27 March 2026
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--Zee Entertainment to invest INR 5.05 bln in ZI-IPR Enterprises
--Zee Entertainment to redeem FCCBs of $23.90 mln on request of bond holders
--Zee Ent will not raise balance $215.10 mln earlier committed via FCCBs
MUMBAI – Zee Entertainment Enterprises Ltd. will redeem foreign currency convertible bonds worth $23.90 million on bond holders' request stating the current geopolitical situation. The company also decided to not raise the balance $215.10 million it had earlier committed to raise through foreign currency bonds.
The company had got the board's approval to raise $239 million from Resonance Opportunities Fund, St. John's Wood Fund Ltd., and Ebisu Global Opportunities Fund through these convertible bonds. The bonds were supposed to mature in 10 years and the conversion price was decided as INR 160.20 per share. At 1103 IST, shares of Zee Entertainment were at INR 73.61 per share on the National Stock Exchange, down more than 3% from the previous close.
Zee Entertainment plans to invest INR 5.05 billion in its wholly-owned subsidiary ZI-IPR Enterprises. This includes INR 5 billion of investment through optionally convertible debentures and INR 50 million through equity. Zee Entertainment also plans to invest nearly INR 201 million in CORE Pvt. Ltd, taking the former's stake to 51%. For the quarter ended December, Zee Entertainment reported a consolidated net profit of INR 1.55 billion and a revenue of INR 22.80 billion. End
US$1 = INR 94.45
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Anshul Choudhary
Edited by Vandana Hingorani
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