Zee Media rises 5% as board approves raising funds by issuing foreign bonds

Zee Media Corporation shares gained 5.1 per cent on Wednesday, April 9, 2025, logging an intraday high at ₹13.5 per share on BSE. The northward movement in the stock came after the company approved raising funds by issuing 5 per cent coupon, unsecured, unlisted, Foreign Currency Convertible Bonds (FCCBs) up to $465,90,000, with a maturity of 10 years which opened on Tuesday, April 8, 2025. 

 

This means the bond will pay an annual interest (coupon) of 5 per cent to the bondholders. The coupon is a fixed interest rate based on the bond's face value.

 

FCCBs are bonds that are issued in foreign currency but can be converted into the company’s equity shares at a later date, typically at the discretion of the bondholder. The conversion rate, terms, and timeframe are generally defined when the bond is issued. FCCBs allow companies to raise funds from foreign investors while offering them the option to convert the debt into equity in the future.

 

Around 1:19 PM, Zee Media share price was up 2.57 per cent at ₹13.17 per share on BSE. In comparison, the BSE Sensex was down 0.43 per cent at 73,905.78. The market capitalisation of the company stood at ₹765.52 crore. The 52-week high of the stock was at ₹26.29 per share and the 52-week low was at ₹10.36 per share.

 

"We wish to inform that the Board of Directors of the Company at its meeting held today i.e. April 8, 2025, have inter-alia, considered and approved: 1. Raising funds by issuance of 5 per cent coupon, unsecured, unlisted, Foreign Currency Convertible Bonds up to $465,90,000, with a maturity of 10 years (‘FCCBs’)," the filing read. 

 

The floor price of issuance of FCCBs has been determined at ₹13.04 per equity share. The fixed conversion price at ₹13.5 per equity share (including an equity premium of ₹12.5), according to the filing. 

 

Zee Media is an Indian TV broadcasting and software production company. It is part of the Zee Entertainment Enterprises group and is primarily involved in the broadcasting of news and infotainment content through its television channels, digital platforms, and other media outlets.

 

In the past one year, Zee Media shares have gained 8.7 per cent against Sensex's rise of 1 per cent.