Zee Media Corporation raises Rs 230 crore via NCDs

NEW DELHI: Zee Media Corporation on Wednesday said it has raised Rs 230 crore through issuance of non-convertible debentures (NCDs) on private placement basis. “The board of directors of the company at their meeting… has approved the allotment of 2,300 unrated, unlisted, secured, redeemable non-convertible debentures bearing a face value of Rs 10,00,000, each for cash at par, aggregating to Rs 230 crore on a private placement basis,” the company said in a regulatory filing.

Zee Media Corporation said a fixed coupon of 9 per cent per annum will be payable on the NCDs on half yearly basis commencing from July 31, 2021.