Zee Media Gets Sebi's Nod For 
200 Crore Rights Issue
Sebi, last month, had sought clarification from the merchant banker regarding the issue.
The funds raised from the issue would be utilised towards purchase of equipment and accessories for production and broadcasting, repayment of certain loans availed by the company, funding subsidiaries for repayment of loans, and other general corporate purposes.
Zee Media Corporation Ltd (ZMCL), formerly known as Zee News LtdBSE 2.49 %, broadcasts 10 news channels including two national ones - Zee News and Zee Business.
Its regional news channels are Zee 24 Taas, 24 Ghanta, Zee Sangam, Zee Madhya Pradesh Chhattisgarh, Zee Purvaiya, Zee Marudhara, Zee Punjab Haryana Himachal and Zee Kalinga.
Earlier in October, the company's board of directors had "approved, in-principle, raising of funds for an amount not exceeding Rs 200 crore through issue of equity shares of the company to its eligible shareholders.
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