
Zee Shareholders Reject Promoters’ Stake Hike Proposal
Zee Entertainment Enterprises Limited was unable to secure shareholder approval for its plan to issue fully convertible warrants to promoter entities on a preferential basis. At the EGM held on July 10, 2025, only 59.51% of votes supported the resolution, falling short of the 75% required for special resolutions.
The proposal aimed to raise Rs 2,237.44 crore and increase the promoter stake from 3.99% to 18.39%. The move was publicly opposed by proxy advisory firms, though one later reversed its stance. This marks the second rejection of a key promoter-backed proposal after shareholders opposed CEO Punit Goenka’s reappointment in November 2024. Zee stated it respects shareholder decisions and remains focused on margin improvement, digital performance, and maintaining flexibility in a competitive media landscape.