Zee to raise ₹2,639 cr from warrant conversion after SAT relief

Zee Entertainment Enterprises has allotted 20.94 crore convertible warrants to promoter group entity Sunbright Mauritius at ₹126 per share, receiving ₹659.8 crore upfront. The company will receive another ₹2,639 crore if all warrants are converted. Following full conversion, the promoter group's stake will rise to 17.9% on a fully diluted basis, below the approved 23.79% limit.