Shares of Zee Entertainment Enterprises Ltd (ZEEL) gained 3.3% to Rs 106.50 on the BSE on Thursday after the board approved plans to raise at least Rs 2,300 crore in one or more tranches to support strategic and business initiatives, as the media company seeks to bolster its balance sheet and invest in new growth opportunities.
In a stock exchange filing on Wednesday, Zee said its board cleared the fundraising proposal at a meeting held on June 10. The company did not disclose the method through which the capital would be raised.
