Zee board okays Rs 1,997 cr raise via convertible debt

On conversion of FCCBs to equity, Zee will issue 1,240 million fully diluted equity shares of ₹1 each to the FCCB holders at the conversion price of ₹160.20 per equity share. The date of issuance of FCCBs was July 16, and the floor price was ₹152.45 per share. The dollar-to-rupee conversion rate has been fixed at ₹83.5658 per US dollar.