Zee Media on Monday said its issue of rights to raise Rs. 195.55 crore from the open market would open on March 25.
The company board has approved the “Letter of Offer for the proposed Rights issue of up to 1,08,643,732 Equity Shares of Re. 1 each of the Company at the issue price of Rs. 18 per Share (including premium of Rs 17 per Share) aggregating to Rs 195.55 crore,” the company informed BSE.
The rights issue would close off on April 8, it further said.
Zee Media Corporation, formerly known as Zee News Ltd, is broadcasting 10 news channels including Zee News, Zee Business, Zee 24 Taas, Zee Sangam, Zee Marudhara and Zee Kalinga.
Company shares closed at Rs. 17.05 per share, down 1.73 per cent, on the BSE.
