Upon full conversion, Zee Entertainment is to receive ₹2,639 crore at ₹126 per share.
The promoter’s shareholding post conversion of warrants, on a fully diluted basis, would be at 17.9% compared to shareholder approval for 23.79% stake.
Zee Entertainment shareholders had approved the issue of ₹24.94 crore warrants worth ₹3,143.52 crore to the promoter group at ₹126 per warrant.
The resolution had passed with 76.6% of the total votes polled in favour of it.
However, a few hours later SEBI barred Zee Entertainment for two months and its promoters Punit Goenka and Subhash Chandra from accessing the securities market for a 12-month-period each.
The order was pertaining to Zee’s Hyderabad property being used to secure borrowings worth ₹726 crore for four Essel Group entities. SEBI also said the board and audit committee approvals were not obtained for the same along with the PFUTP and LODR violations.
However, on August 14, the Securities Appellate Tribunal (SAT) granted interim relief to Zee Entertainment in its case against SEBI. It stayed the SEBI order against Zee Entertainment and allowed the latter to proceed with the proposed ₹3,143 crore preferential warrant issue to promoters.
Shares of Zee Entertainment ended the previous session 0.5% lower at ₹107.46 apiece. The stock has gained 2% in the past month and 18.8% this year, so far.
First Published: Aug 22, 2026 2:17 PM IST
