Zee Media Allots 3 Cr Equity Shares on Warrant Conversion

Zee Media Corporation Ltd announced the allotment of 3,00,00,000 equity shares to Sun India Opportunities Investing Fund Incorporated VCC Sub-Fund. This allotment follows the exercise of conversion rights by the fund for 3,00,00,000 warrants, out of the 5,00,00,000 warrants it held. The conversion was made upon remittance of the balance 75% of the warrant issue price, amounting to ₹19,12,50,000. The newly allotted shares, with a face value of ₹1 each, rank pari passu with existing equity shares and will be listed on BSE and NSE. This conversion increases the company's paid-up equity share capital from ₹62,54,28,680 to ₹65,54,28,680.