Shareholders of Zee Entertainment Enterprises on Friday approved a preferential issue of fully convertible warrants to a promoter group entity, paving the way for a Rs 3,143.5 crore fund infusion into the company and an increase in promoter shareholding to 23.79%.
The approvals were granted at the company’s Extraordinary General Meeting (EGM), where shareholders also cleared the implementation of the “Truly Yours” Employee Stock Option Plan (ESOP) for eligible employees of Zee and its subsidiaries.
