Big boost for Zee Media Corporation! Mauritius-based FII raises stake to 5.04%

Zee Media Corporation Ltd. on Monday disclosed that Magnifica Global Opportunities VCC–MGO High Conviction Fund Incorporated VCC Sub-Fund has acquired 4.5 crore fully convertible warrants through a preferential allotment, taking its fully diluted holding in the company to 5.04%.

According to the regulatory filing, the foreign investor acquired 45,000,000 fully convertible warrants, representing 5% of Zee Media's diluted share capital. Prior to the acquisition, the fund held 3,69,645 equity shares, accounting for 0.06% of the company's voting share capital.

Following the allotment, the investor's total holding has increased to 4,53,69,645 securities, comprising 3,69,645 equity shares and 4.5 crore convertible warrants. On a fully diluted basis, the holding represents 5.04% of the company's share capital, while its voting rights remain at 0.06%, as the warrants do not carry voting rights until they are converted into equity shares.

The acquisition was made through a preferential allotment of convertible warrants. Each warrant was issued at ₹8.50, including a premium of ₹7.50 per warrant, and is convertible into one fully paid-up equity share of face value Re 1 each at a conversion price of ₹8.50.

The warrants are convertible in one or more tranches within 18 months from the date of allotment, at the option of the warrant holder. As per the issue terms, the investor paid 25% of the issue price ( ₹2.125 per warrant) upfront at the time of subscription and allotment, while the remaining 75% ( ₹6.375 per warrant) will be payable upon exercising the conversion option.

The preferential allotment was completed on June 25, 2026, its filing showed.

According to the filing, upon full conversion of the newly allotted warrants, Zee Media's fully diluted share capital would increase to 90.04 crore equity shares from the current 62.54 crore equity shares. The calculation also assumes the full conversion of 13.5 crore outstanding convertible warrants allotted by the company in January 2022.

Zee Media Corporation Q4 Results 2026

For the quarter ended March 31, 2026, Zee Media reported a net loss of ₹14.32 crore, compared with a net loss of ₹22.68 crore in the corresponding quarter of the previous financial year. The improvement in profitability came despite a marginal decline in revenue during the quarter.

Revenue from operations for the March quarter stood at ₹112.55 crore, slightly lower than ₹117.48 crore reported in the year-ago period. However, the company managed to reduce its overall cost structure, helping narrow losses during the quarter.

For FY26, Zee Media reported a net profit of ₹16.93 crore, marking a sharp turnaround from the net loss of ₹100.33 crore recorded in FY25. The company's revenue performance also improved significantly during the year. Revenue from operations rose 26% year-on-year to ₹571.53 crore in FY26, compared with ₹454.88 crore in the previous financial year.

The strong growth in annual revenue, coupled with improved cost management, enabled the company to move back into the black after a challenging FY25.

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