Zee Entertainment Enterprises Limited (ZEEL) has received ₹659.76 crore from promoter-group entity Sunbright Mauritius Investment Limited towards the allotment of 20.94 crore fully convertible warrants, according to a certificate submitted by the company to the BSE.
The development follows ZEEL’s preferential issue of warrants at an issue price of ₹126 per warrant. The company submitted an independent auditor’s certificate dated August 24, 2026, confirming compliance with the relevant requirements under the Securities and Exchange Board of India’s Issue of Capital and Disclosure Requirements (ICDR) Regulations.
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The certificate confirms that the consideration for the warrants was received from the allottee’s bank account and that the company had complied with the applicable requirements of Regulation 169 of the ICDR Regulations.
According to the details filed by Zee, Sunbright Mauritius Investment Limited, classified as a promoter group entity, was allotted 20,94,47,805 warrants.
Each warrant was issued at ₹126, comprising a subscription price of ₹31.50 and an exercise price of ₹94.50.
The company received the upfront subscription consideration of ₹31.50 per warrant, representing 25% of the warrant issue price, at the time of allotment.
This resulted in total consideration of ₹659.76 crore being received by ZEEL by August 21, 2026.
The warrants carry the right to subscribe to equity shares upon exercise, with the remaining exercise price payable in accordance with the terms of the issue.
The filing comes pursuant to Regulation 169(5) of the SEBI ICDR Regulations, under which Zee submitted a certificate obtained from its statutory auditors.
Walker Chandiok & Co LLP said it had examined the company’s statement detailing the receipt of consideration towards the allotment of the fully convertible warrants.
As part of its procedures, the auditor reviewed the board resolution approving the preferential issue, the special resolution passed by shareholders at the extraordinary general meeting held on July 31, 2026, details of the warrant allotment and consideration received, as well as relevant bank statements and remittance documentation.
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The auditor also confirmed that the company had complied with the applicable requirements of Chapter V of the ICDR Regulations, including Regulations 169(4) and 169(5).
The warrant allotment follows the board’s approval of the preferential issue and subsequent shareholder approval.
According to the certificate, the board approved the preferential issue at its meeting held on July 1, 2026, while Zee’s members approved the related special resolution at the EGM on July 31.
The warrant allotment was subsequently approved by the company’s preferential issue and allotment committee at its meeting held on August 21, 2026.
The auditor’s certificate confirms that the consideration received from Sunbright Mauritius was maintained in the company’s records as of August 21 and that the company had complied with the applicable regulatory requirements.
The latest disclosure establishes that Zee has received ₹659.76 crore upfront against the warrant issue.
The ₹31.50 subscription component represents one-fourth of the ₹126 issue price per warrant, with the balance represented by the ₹94.50 exercise price.
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