Penny Stock Under Rs 25: Board Allotted 13,33,33,333 Warrants to UNICO Global Opportunities Fund, Ebisu Global Opportunities Fund & AL Maha Investment Fund PCC - Onyx Strategy
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 10 per share.
A titan of Indian media since 1999, Zee Media Corporation Ltd (ZMCL) reigns supreme in news and broadcasting across television and digital platforms. Their vast network of 15 TV news channels, catering to global, national, and regional audiences, coupled with their robust digital presence through Zeenews.com reaching over 280 million users in 9 languages, solidifies their dominance. Zee News, their flagship Hindi channel, has seen remarkable growth, climbing to the 4th position with 58 million viewers and a top spot among Hindi news channels.
Beyond news, Zee News fosters audience engagement through initiatives like "Ek Bharat Shreshtha Bharat" and "Jaipuria Business and Leadership Conclave 2024." Regional dominance is evident with Zee Bihar Jharkhand and Zee Rajasthan holding the second spot in their regions, while Zee 24 Ghanta excelled in Durga Puja coverage. Zee Digital boasts a powerful presence with 1.9 billion page views and 214 million monthly active users, solidifying their position as the third-largest news and information player. Further solidifying their commitment to growth, Zee Media Corporation Limited's strategic investment in Flutrr Digimate Private Limited signifies a significant step towards expanding their technological capabilities.
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Zee Media Corporation Ltd. (ZMCL) has raised Rs 49,99,99,999 by issuing 13,33,33,333 fully convertible warrants to three foreign institutional investors: UNICO Global Opportunities Fund Limited, Ebisu Global Opportunities Fund Limited, and AL Maha Investment Fund PCC - Onyx Strategy. These investors paid 25 per cent of the warrant price upfront, and the remaining 75 per cent will be paid upon conversion into 13.33 crore equity shares of ZMCL at a price of Rs 15 per share within 18 months.
On Friday, shares of Zee Media Corporation Limited plunged 2.85 per cent to Rs 20.17 per share from its previous closing of Rs 2076 per share. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 10 per share. The company’s promoters bought 74,87,000 shares and increased their stake to 1.62 per cent in September 2024 compared to 0.42 per cent in June 2024.
Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.