Zee Media Corporation raises Rs 230 cr via NCDs

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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.

Shares of Zee Media Corporation were trading 1.89 per cent higher at Rs 5.38 apiece on BSE.