News

Zee shareholders reject promoter-led ₹2,237 crore capital infusionZee Entertainment shareholders have rejected a ₹2,237 crore capital infusion proposal via preferential warrants by promoters, with 40% voting against the special resolution. This marks the second such rejection after Punit Goenka’s appointment as MD was voted down in December 2024. Zee says it respects the decision and remains focused on growth.By Poonam Behura  July 10, 2025, 10:10:36 PM IST (Updated)2 Min ReadZee Entertainment promoters have received a second setback from shareholders, as investors on Wednesday voted against the proposed capital infusion of ₹2,237 crore through preferential warrants. According to a disclosure made by the company to the stock exchanges, 40% of shareholders voted against the resolution.

A normal resolution requires over 50% support, while a special resolution needs over 75%. The current proposal was a special resolution.

“In view of the above scrutiny as the number of votes cast in favour of the resolution was not more than three times of the number of votes cast against, I hereby certify that the Special Resolution with regard to resolution no. 1 has not been passed with requisite majority,” as disclosed to the stock exchanges.

In December 2024, shareholders had similarly rejected the appointment of Punit Goenka, a promoter of the company, as managing director.

“The Board and the management of the Company have noted that ~ 60% of the shareholders who participated in the voting process, have expressed their support towards the resolution pertaining to the issuance of fully convertible warrants to promoter group entities, and are grateful for their support. The Board and the management also respect the decision taken by the remaining shareholders,” a company spokesperson said.

Shares of Zee ended largely unchanged at ₹141.05 on the National Stock Exchange.

Also Read: IREDA Q1 asset quality hit after it classifies various exposures worth over ₹1,500 crore as NPA

Continue ReadingNote To ReadersThis story has been updated to reflect a clarification in the shareholder voting outcome. It also includes the company’s statement on the outcome and the scrutinizer officer's statement on resolution not being passed with the requisite majority.(Edited by : Akanksha Upadhyay)First Published: Jul 10, 2025 8:57 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tagsshare market todayZee