Zee Entertainment Enterprises Ltd (ZEEL) on Monday announced plans to raise Rs 2,237.44 crore from its promoter group entities through the issuance of convertible warrants, which will increase promoter shareholding to 18.4%.

In a board meeting held on Monday, the company approved the issuance of up to 16.95 crore fully convertible warrants, to be subscribed in cash by Altilis Technologies and Sunbright Mauritius Investments—both part of the promoter group—on a preferential basis.

ZEEL stated that the fresh capital infusion will help strengthen its core business segments and enhance its financial position, enabling the company to pursue value-driven growth opportunities in the dynamic Media & Entertainment sector.