Zee Media Gets Sebi's Nod For Rs. 200 Crore Rights Issue
By PTI
NEW DELHI: Zee Media Corporation has received capital market regulator Sebi's approval to raise up to Rs 200 crore through rights issue.
In a rights issue, shares are issued to existing investors in line with their holding at pre-determined price and ratio.
The company had filed its application with the capital market regulator for the proposed rights issue in January through its lead merchant banker Axis Capital Ltd.
According to the latest update by the Securities and Exchange Board of India, the regulator issued its final 'observations' on the draft offer documents on February 18.
Issuance of 'observations' on offer documents by Sebi is considered as a clearance to the issuer to go ahead with the share issues through routes like rights issue, IPOs and FPOs.
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