Zee To Issue Equity-linked Securities To Promoters: Reports

According to reports, Zee Media Corporation Limited's board of directors is considering providing equity-linked instruments to its promoters in response to a proposal from a promoter group firm to invest more in the company.

According to media sources, Zee Media's board meeting on November 12 "would also be discussing the proposal to issue equity shares or equity-linked instruments warrants convertible into equity shares of the firm," according to a regulatory filing.

This would be paid out in one or more tranches to a Promoter Group firm on a preferential basis, as the Board sees fit, according to reports.

The change will need to be approved.