Stock Market Updates: ZEE, Asian Paints, NTPC, Tanla Platforms, Hyundai Motor

ZEE's board has approved the issuance of up to 16.95 crore warrants to raise Rs 2,237.44 crore. Bata India has appointed Panos Mytaros as its new global CEO. ICICI Bank's executive director Sandeep Batra has been extended for two years. Reliance Industries sold 85 lakh shares in Asian Paints for Rs 1,876 crore. Sona BLW Precision Chairman Sunjay Kapur has passed away. Jindal Steel and Power board has approved the change in the company's name to 'Jindal Steel'. Biocon has launched its QIP issue to raise Rs 4,500 crore. Jet Airways' financial statements for FY24 and FY25 are yet to be finalized. Tanla Platforms board has approved a buyback of 20 lakh shares worth Rs 175 crore. Macrotech Developers has rebranded itself as Lodha Developers. NTPC will consider raising up to Rs 18,000 crore via bonds on June 21. Hyundai Motor India has started production of passenger vehicles engines at its Maharashtra plant.

Zee Entertainment Enterprise Ltd (ZEEL) has taken a significant step towards bolstering its financial position and strategic growth by approving the issuance of up to 16.95 crore fully convertible warrants. This move aims to raise Rs 2,237.44 crore, which will increase the promoter shareholding to 18.39% [1].

The board of ZEEL, at its meeting held on Monday, approved the issuance of the warrants to Altilis Technologies and Sunbright Mauritius Investments, both promoter group entities. The warrants will be issued at a price of Rs 132 each, with an upfront payment of Rs 33 per warrant required for subscription. The remaining amount of Rs 99 per warrant will be paid upon conversion into equity shares within a maximum period of 18 months from the date of allotment [1].

This funding will support ZEEL's strategic content and technology expansion plans, as well as strengthen its financial foundation. The company aims to capitalize on emerging opportunities in the evolving media and entertainment landscape [2].

The issuance of warrants is subject to shareholder approval and is in line with ZEEL's strategic ambitions for the future. The company has sought an evaluation of its growth plans from US investment banker JP Morgan, which discussed various alternatives to strengthen the company's balance sheet and prepare for future investments [1].

ZEE Chairman R. Gopalan commented on the development, stating that the steps being taken to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan. The media and entertainment sector is rapidly evolving, leading to shifts in consumer preferences, and the investment by the promoters, coupled with the company's strong growth initiatives, will position ZEE well for future growth [2].

The Extraordinary General Meeting (EGM) scheduled for July 10, 2025, will seek shareholder approval for the preferential warrant issue. The company's shares closed at Rs 137.95 on BSE on Monday, up 0.44% from the previous close [3].

References:
[1] https://www.business-standard.com/companies/news/zee-to-raise-2-237-crore-via-promoter-warrants-boost-stake-to-18-4-125061601342_1.html
[2] https://economictimes.indiatimes.com/markets/stocks/news/promoters-to-inject-rs-2237-crore-into-zee-as-board-backs-growth-plan/articleshow/121888461.cms
[3] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3SJ15M:0-zee-entertainment-shareholders-to-invest-261-million-in-fundraiser/