Zee Entertainment board approves Rs 2,300 crore capital raise for strategic initiatives

Zee Ent approves Rs 2,300 cr capital raise

Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said its board has approved a plan to raise a minimum of Rs 2,300 crore in one or more phases to fund strategic and business initiatives, as the broadcaster looks to strengthen its balance sheet and expand into newer growth areas.In a stock exchange filing, the company said the board approved the capital raise at its meeting held on June 10. It, however, did not specify the route through which the funds would be raised.Also Read: Zee secures FIFA World Cup broadcasting rights"The Board of Directors has approved the raising of capital by the Company of minimum Rs 2,300 crore in one or more phases/tranches to fund the strategic and business initiatives," the company said. It added that the board would deliberate further on the available fundraising options.The fundraising comes days after Zee secured exclusive media rights to broadcast FIFA events in India through 2034, ending uncertainty over the availability of the 2026 FIFA World Cup in one of the world's largest football-viewing markets.The agreement covers 39 FIFA competitions over the next eight years, including the 2026 and 2030 FIFA World Cups. Financial details of the deal were not disclosed.Also Read: Ahead of FIFA World Cup, ZEEL ramps up Zee5 tech, anti-piracy measuresZee has also been expanding beyond its traditional television business through investments in newer ventures such as micro-drama platform Bullet and visual effects studio PhantomFX, while simultaneously building out a dedicated sports broadcasting portfolio.The announcement follows a difficult March quarter for the company. Zee reported a loss for the quarter ended March 2026 as higher operating expenses and a slowdown in advertising spending amid geopolitical tensions in the Middle East weighed on profitability.(With inputs from Reuters)

16 hours ago

Zee Entertainment to raise $241 million for stategic initiatives

Indian television ​broadcaster Zee Entertainment said ​on Wednesday it would raise 23 ​billion rupees ($241.43 million) to fund its strategic and business initiatives.Here are some key details:* The company, which ‌did not ⁠disclose ⁠a medium for the raise, said the board will ​deliberate further on options for raising funds* The fundraise comes ​days after the broadcaster struck a deal with FIFA to broadcast the 2026 World ​Cup in India, ending uncertainty over ⁠the tournament's ‌availability in one of ​the last major ​markets where rights had remained ⁠unsold.* The deal covers 39 FIFA events ​over eight years through 2034 and ​also includes the next World Cup in 2030. Financial terms were not disclosed.* The company has expanded its presence in sports broadcasting by launching a dedicated portfolio of ‌sports channels.* The company previously invested in new businesses, including micro-drama app Bullet ​and visual-effects ​studio PhantomFX, as ⁠it seeks to expand beyond traditional television broadcasting.* Zee Entertainment reported a loss for the March quarter ​on May 19, as margins were pressured by higher expenses and tighter advertising budgets following the Middle East crisis.

16 hours ago