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Zee fails to get shareholder nod for preferential issue
Business Standard
|July 11, 2025
In an extraordinary general meeting (EGM) on Thursday, the proposal of Zee Entertainment Enterprises (Zee) to raise about ₹2,237 crore through convertible warrants to the family of founder Subhash Chandra was defeated.
The resolution, for the preferential issue, required an approval rate of 75 per cent for clearance. The board had earlier cleared the family's increase of its stake in the company from 4 per cent to 18 per cent. According to the stock-exchange filing, 59.51 per cent of the valid votes were cast in favour of the resolution, while 40.48 per cent were cast against it.
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