Zee Media Corporation Limited (ZMCL) has outlined its plan to use a significant portion of its proposed fundraising to reduce existing financial liabilities, as part of a broader capital restructuring initiative.
The company is looking to raise approximately Rs 119 crore through a preferential issue of fully convertible warrants, subject to shareholder approval at an Extraordinary General Meeting scheduled for June 13, 2026.
According to regulatory filings submitted to the BSE and NSE, Zee Media has revised and clarified its fundraising plan following observations made during the regulatory review process. The updated disclosure details how the proceeds will be allocated across debt reduction, capital expenditure, and general corporate purposes.
The largest portion, Rs 75 crore, is earmarked for repaying existing liabilities. These include dues owed to marketing vendors, distribution partners, domestic and international transponder service providers, and repayments of working capital loans from banks, along with other short-term obligations.
An additional Rs 25 crore is planned for capital expenditure aimed at upgrading broadcast infrastructure and newsroom technology systems. The remaining Rs 19 crore will be used for general corporate purposes, future expansion, and potential support for subsidiaries, subject to necessary approvals.
The company noted that the corrigendum to its EGM notice forms an integral part of the original filing and has been shared with shareholders and relevant regulatory bodies, including stock exchanges and depositories.
The fundraising proposal involves issuing convertible warrants to non-promoter investors and will require approval from shareholders at the upcoming EGM. Once approved, the capital infusion is expected to help strengthen Zee Media’s balance sheet while supporting operational continuity and strategic investments.
