Last month, the company had said in an exchange filing that it will raise up to ₹2,300 crore in equity funding. Last year, Zee had attempted a similar fundraise of ₹2,200 crores via warrants, proposing to more than quadruple the promoter Goenka family’s 3.99% stake. Prominent foreign shareholders including Morgan Stanley Research’s Calvert Research and Management and the City of New York Group Trust had rejected the proposal.
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