Zee Media to raise $46 million via foreign currency convertible bonds; check details

Zee Media Corporation on Tuesday, April 8, said it would raise funds via the issue of foreign currency convertible bonds (FCCB) of up to $46.59 million (or $46,590,000).

The regulatory filing said that the 5% coupons, secured and unsecured FCCBs with a maturity of 10 years, will be issued on a private placement basis to UNICO Global Opportunities Fund Limited and Sun India Opportunities Investing Fund's incorporated VCC sub-fund (‘Proposed Investors’).

The issuance of the FCCBs was opened on Tuesday, April 8, 2025, at a conversion price of ₹13.50 per equity share, including a premium of ₹12.50.

“We further wish to inform you that the ‘Relevant Date’ for the purpose of issuance of the FCCBs, in terms of ‘Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme 1993’ (‘FCCB Scheme’), is April 8, 2025,” the filing added.

The floor price was set at ₹13.04 per equity share, the filing stated.

Zee Media share performance

Shares of Zee Media closed in the green at ₹12.03 apiece, up 5.73% on the National Stock Exchange (NSE) on Tuesday.

The stock rose 1.09% over the last week but has lost 1.32% since the beginning of April. The scrip slumped 29.55% on a year-to-date (YTD) basis.

The stock hit a 52-week high of ₹26.35 on October 3, 2024, and a low of ₹10.40 on May 7, 2024.

Zee Media Corporation has a total market capitalisation of ₹803.68 crore as of April 8, 2025, on the NSE.