ZEEL allots 20.94 crore warrants to promoter group entity at Rs 126 each
The warrants have been allotted to Sunbright Mauritius Investments
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Published: Aug 22, 2026 3:54 PM | 2 min read
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- Zee Entertainment Enterprises Ltd (ZEEL) has issued 20,94,47,805 fully convertible warrants to Sunbright Mauritius Investments Ltd at ₹126 each, totaling approximately ₹2,640 crore.
- The allotment, approved by ZEEL's shareholders and stock exchanges, follows a favorable ruling from the Securities Appellate Tribunal (SAT).
- Sunbright has made an upfront payment of 25% of the issue price, amounting to approximately ₹659.76 crore, with the remaining 75% due within 18 months.
- If all warrants are converted, Sunbright's stake in ZEEL will increase to about 17.90%, enhancing the promoter group's ownership in the company.
Zee Entertainment Enterprises Ltd (ZEEL) has allotted 20,94,47,805 fully convertible warrants to Sunbright Mauritius Investments Ltd, a promoter-group entity, as the broadcaster moves ahead with a preferential fund-raising plan.
As per reports, the warrants were allotted on August 21 at ₹126 apiece, implying a total issue value of around ₹2,640 crore. The allotment follows approvals from ZEEL's shareholders and stock exchanges, as well as a favourable order from the Securities Appellate Tribunal (SAT).
Under the terms of the issue, each warrant can be converted into one equity share of ZEEL with a face value of ₹1 at ₹126 per share.
Sunbright has paid 25% of the issue price upfront, amounting to ₹31.50 per warrant. The upfront payment totals approximately ₹659.76 crore. The remaining 75%, or ₹94.50 per warrant, is payable within 18 months of the allotment date.
The deadline for the balance payment is February 21, 2028. The warrants will be converted into equity shares once the required payment is made. Until then, ZEEL's paid-up share capital will remain unchanged.
If all the warrants are converted, Sunbright's holding in ZEEL will rise to around 17.90% on a fully diluted basis, strengthening the promoter group's ownership in the company.
The preferential issue received a boost last week when SAT allowed ZEEL to raise funds through the issue of warrants to its promoter group. The tribunal also permitted the company to utilise its mutual fund investments to meet operational expenses.
The latest allotment marks a key step in ZEEL's efforts to access additional funds while giving the promoter group a route to increase its stake in the company.
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