Zee Media to raise Rs 195.55 cr via rights issue
New Delhi: Zee Media today said its right issue to raise Rs 195.55 crore from the open market would open on March 25.
The company board has approved “Letter of Offer for the proposed Rights issue of up to 1,08,643,732 Equity Shares of Re 1 each of the Company at the issue price of Rs 18 per Share (including premium of Rs 17 per Share) aggregating to Rs 195.55 crore,” the company informed BSE.
The rights issue would close of April 08, it further informed.
Zee Media Corporation, formerly known as Zee News Ltd, is broadcasting 10 news channels including Zee News, Zee Business, Zee 24 Taas, Zee Sangam, Zee Marudhara and Zee Kalinga .
Company shares closed at Rs 17.05 per share, down 1.73 per cent, on the BSE.