SEBI Ban Blocks Zee’s Rs 3,143.5-Crore Fund Raise

“SEBI’s order creates a direct legal overlay on Zee’s proposed fund raise. The regulator has restrained the company from accessing the securities market for a defined period and barred the promoters from dealing in securities. That means, on the face of the order, the company cannot proceed with issuance or allotment of warrants or other securities while the restraint is in force.”

“A shareholder resolution is an enabling instrument; it is not a regulatory passport. The corporate approval may continue to exist, but its implementation remains subject to securities-law restraints operating on the issuer at the time of allotment.”

“"Pursuant to the regulatory approvals received from the stock exchanges and from its shareholders at the Extraordinary General Meeting conducted on 31st July 2026, the company will further take all required steps to successfully complete the fund-raising exercise."”

“The Company firmly believes that the order from SEBI has no direct bearing on the fund‑raising exercise.”

“"Subhash Chandra and Punit Goenka cannot subscribe to these warrants while the one-year restraint remains in force. Zee has also been barred from the securities market for two months. Therefore, at least for the next two months these convertible warrants cannot be issued."”