ZEEL to invest ₹116 Cr in Phantom Digital Effects via CCDs
Zee Entertainment Enterprises Ltd (ZEEL) board has approved an investment of up to ₹116 crores in Compulsorily Convertible Debentures (CCDs) of Phantom Digital Effects Limited (Phantom) on a preferential allotment basis. This strategic investment, approved on April 17, 2026, aims to significantly enhance ZEEL's content creation capabilities in the Animation, Visual Effects, Gaming, and Comics (AVGC) segment. Phantom, incorporated in 2016, specializes in VFX, animation, and post-production services, reporting a turnover of ₹1022 million for FY25. The partnership is designed to leverage ZEEL's content vision and distribution with Phantom's robust execution engine to cater to the increasing demand for premium, VFX-heavy OTT and film content. The acquisition is not a related party transaction and does not require governmental or regulatory approvals.
Key Highlights
- ZEEL to invest up to ₹116 Cr in Phantom Digital Effects via CCDs.
- Strategic investment aims to boost ZEEL's VFX and animation content capabilities.
- Phantom Digital Effects reported ₹1022 million turnover for FY25.
- Investment is a strategic partnership, not a related party transaction.
- No immediate change in shareholding; conversion to equity will happen later.