In a regulatory filing on July 10, the company disclosed that the resolution garnered only 59.5% of the votes, falling short of the 75% supermajority required to pass such proposals. The result effectively derails the promoter group’s plan to bolster their holding in the company through fresh capital infusion. The proposal involved issuing 16.95 crore warrants worth Rs 2,237 crore to Altilis Technologies and Sunbright Mauritius Investments, entities affiliated with the Goenka family.
Responding to the outcome, Zee released an official press statement, expressing gratitude to the
60% of shareholders who voted in favor of the resolution. "The Board and the management also respect the decision taken by the remaining shareholders," the company said.
Zee underlined its ongoing efforts to maximize shareholder value, highlighting progress in improving profitability, especially by trimming losses in its digital segment and enhancing margin performance. The company said it remains committed to building a strong financial foundation amid evolving market conditions and intense competition.
While the current efforts have augured well, it is important to maintain a sufficient war chest to fuel future growth, navigate rapid market shifts, and invest in innovation, said a company spokesperson.
Zee also reiterated that its strategy remains guided by a seasoned board to further fortify itself for any unforeseen events as well as to deliver growth and invest in technology and innovation.
ZEEL is a leading content and technology powerhouse, seamlessly blending its rich legacy with pioneering innovation to deliver cutting-edge entertainment experiences. 'Z' brings diverse stories to life through linear television, digital platforms, movies and music across languages.
The company reported a consolidated net profit of Rs 188.4 crore in Q4 FY25, significantly higher than the PAT of Rs 13.4 crore in Q4 FY24. Net sales rose 0.65% year-over-year (YoY) to Rs 2184.1 crore during the period under review.