Zee Entertainment Board To Meet This Week For Fundraising

Zee Entertainment Enterprises Ltd. said its board will meet this week to consider fundraising via shares or other eligible securities.

The board will meet on Thursday (6 June) to consider raising of funds via the issuance of equity shares or any other eligible securities (convertible/non-convertible), the Indian media and entertainment company said in a stock exchange announcement.

The company will consider options such as a private placement, qualified institutional placement and preferential issue for the fundraising, subject to necessary approvals.

Zee, which recently asked Sony Group’s Indian units to pay $90 million for calling off their proposed merger, didn’t say how much capital the company plans to raise and the purpose of fundraising.

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