Zee Media Allots 3,960 FCCBs Worth US$3.96 Million

Zee Media Corporation Ltd has announced the allotment of 3,960 Foreign Currency Convertible Bonds (FCCBs) to Sun India Opportunities Investing Fund. Each FCCB is valued at US$1000, totaling US$3.96 million. The allotment was made on a private placement basis. Upon conversion, the investor is entitled to approximately 25.17 million equity shares at a conversion price of Rs. 13.50 per share. The company stated there is no change in its paid-up share capital at this stage.