Zee Media shares rise up to 10% after allotment of foreign currency bonds to Mauritius-based FPI | Stock Market News

Stock market today: After the allotment of Foreign Currency Convertible Bonds to the Sun India Opportunities Investing Fund, a Mauritius-based FPI, shares of Zee Media Corporation saw strong buying interest in early-morning trading. The stock opened flat at ₹7.46 apiece on the NSE, but soon gained momentum and touched an intraday high of ₹8.20 per share, recording an intraday gain of around 10%.

At the board meeting held on Thursday, the company's board of directors allotted 3,960 FCCBs to Sun India Opportunities Investing Fund. These FCCBs are worth US$ 1000 each, maturing in 10 years.

Informing the Indian market exchanges about the allotment of FCCBs, the company said, “We wish to inform that upon receipt of Subscription money towards the 5% coupon, unsecured, unlisted Foreign Currency Convertible Bonds (“FCCBs”), from Sun India Opportunities Investing Fund ‘incorporated VCC sub-fund’ (‘Investor’), the Securities Issue and Allotment Committee (‘SIA’) of the Company at its meeting held today i.e. July 30, 2026, has, inter-alia, approved the allotment of 3,960 FCCBs of US$ 1000 each, on a private placement basis to the Investor.”

The Zee Media Corporation Ltd board allotted 3,960 FCCBs to Sun India Opportunities Investing Fund, incorporated VCC sub-fund, upon receipt of Subscription money from them. The FCCBs allotted have 5% coupons and are unsecured.

"The Investor shall be entitled to receive an aggregate of 2,51,70,552 fully paid-up equity shares, upon conversion of 3,960 FCCBs of US$ 1000 each allotted to them, at a conversion price of ₹13.50 per equity share, in accordance with the terms of issue and applicable laws," the company added.

The conversion of the FCCBs will be at the FCCB holder's option. The conversion price shall be ₹13.50 per equity share (including a premium of ₹12.50/- per equity share), subject to adjustments in accordance with the terms agreed between the parties and applicable law.

As the Company has allotted the FCCBs, there is no change in the Company's paid-up share capital at this stage upon such allotment to the Investor.

Zee Media shares have been under selling pressure this week. After ending at ₹7.97 apiece last Friday, the media stock had been nosediving for the last four sessions. Hence, today's rally may turn out as a trend reversal for the Zee Media Corporation stock.

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Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).

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