Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said its board has approved a plan to raise a minimum of Rs 2,300 crore in one or more phases to fund strategic and business initiatives, as the broadcaster looks to strengthen its balance sheet and expand into newer growth areas.
In a stock exchange filing, the company said the board approved the capital raise at its meeting held on June 10. It, however, did not specify the route through which the funds would be raised.
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"The Board of Directors has approved the raising of capital by the Company of minimum Rs 2,300 crore in one or more phases/tranches to fund the strategic and business initiatives," the company said. It added that the board would deliberate further on the available fundraising options.
The fundraising comes days after Zee secured exclusive media rights to broadcast FIFA events in India through 2034, ending uncertainty over the availability of the 2026 FIFA World Cup in one of the world's largest football-viewing markets.
The agreement covers 39 FIFA competitions over the next eight years, including the 2026 and 2030 FIFA World Cups. Financial details of the deal were not disclosed.
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Zee has also been expanding beyond its traditional television business through investments in newer ventures such as micro-drama platform Bullet and visual effects studio PhantomFX, while simultaneously building out a dedicated sports broadcasting portfolio.
The announcement follows a difficult March quarter for the company. Zee reported a loss for the quarter ended March 2026 as higher operating expenses and a slowdown in advertising spending amid geopolitical tensions in the Middle East weighed on profitability.
(With inputs from Reuters)
