Zee lists bonds on Singapore bourse

NEW DELHI: The Subhash Chandra-promoted Zee Telefilms Limited, India's largest vertically integrated media and entertainment company,has placed foreign currency convertible bonds worth upto $100 million (including a green shoe of $15 million) for listing on the Singapore Stock Exchange.


According to sources in Singapore capital markets, Zee Tele's bonds have already been oversubscribed 14 times.


The bonds are convertible into newly issued ordinary shares of Rupee 1.0 per share of Zee, at the option of the bondholders, at a conversion price of approximately Rs. 197.24 per share, which is at a 35 per cent premium to the company's closing share price on the Bombay Stock Exchange (BSE) of Rs. 146.10 as on 20 April 2004.

The bonds carry a coupon rate of 0.50 per cent per annum and shall be redeemable at a price of 116.24 per cent, if not converted into ordinary shares during the period.

The issue, which was launched post trading hours of the BSE on 20 April 2004, have reportedly received a strong demand. UBS AG and Citigroup Global Markets Inc were the joint book runners for the issue.

Speaking on the occasion, Rajiv Garg, CEO Corporate Strategy and Finance of Zee Telefilms said, "We are encouraged with the market's response for the transaction. This positions us well to take advantage of opportunities opening up in the media and entertainment sector."

Zee is India's largest vertically integrated media and entertainment company. It is the largest producer and aggregator of Hindi programming in the world with an extensive library housing television content, movie titles and news content,according to an official statement from the company this morning.

Zee is also India's largest cable distributor. Through its wholly owned subsidiary, Siticable. Zee's channels are widely distributed across many countries, especially for South Asian audiences. It is a significant player in the film production, music publishing and education business.

The company has clarified that this announcement is not, and is not intended to be, an offer of securities of Zee Telefilms Limited for sale in the United States. Securities of Zee Telefilms Limited may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933. There is not, and is not intended to be, a public offering of the securities of Zee Telefilms Limited in the US.

Latest Reads
World television premiere of Maragadha Naanayam on Zee Tamil

Zee Tamil announced the world television premiere of critically acclaimed Maragadha Naanayam – the fantasy-comedy-thriller film that features Aadhi Pinisetty and Nikki Galrani on Sunday, 17 December at 4:00 PM only on Zee Tamil. Written and directed by ARK Saravan, the movie is a perfect blend of...

Television TV Channels Regional
Republic TV to track real-time data for Gujarat elections

MUMBAI: Republic TV has partnered data-science company Gramener to track real-time data, along with analysis, during the Gujarat elections. According to a release sent by Republic TV, “Gramener will help enhance the visual look both on-air and on Republic’s digital platforms to present the data in...

Television TV Channels News Broadcasting
Nakul Chopra is new BARC chairman

MUMBAI: Nakul Chopra, currently president of Advertising Agencies Association of India (AAAI) and senior advisor of Publicis Communications, has been elected as the next chairman of BARC India. Chopra succeeds Viacom18 group CEO Sudhanshu Vats, who has completed his one-year tenure as chairman.

Television TV Channels Viewership
Nitin Kukreja joins iQuest

Former Star India sports head Nitin Kukreja has joined iQuest Enterprises as its chief executive officer. Kukreja had left Star in March this year. IQuest is an enterprise of Nimmagadda Prasad, the former owner of the Maa TV group, who has multiple business interests ranging from infrastructure to...

Television TV Channels Sports
Sun TV's unassailable lead continues, while Zee TV leads Hindi across genre

BENGALURU: The Sun network's flagship Tamil general entertainment channel (GEC) Sun TV continued its lead in ratings across all GECs on Indian television for week 48 of 2017 (25 November to 1 December 2017) according to Broadcast Audience Research Council (BARC) weekly ratings data

Television TV Channels GECs
Republic TV, BTVI join hands for budget coverage

MUMBAI: Republic TV, spearheaded by Arnab Goswami, and Business Television India (BTVI) have entered into an alliance for content and programming around Union Budget 2018. The Republic TV- BTVI alliance promises to offer viewers a distinctive experience.

Television TV Channels News Broadcasting
Mairu Gupta and the art of building the NBA in India

MUMBAI: For basketball fans worldwide, the US National Basketball Association (NBA) represents the mecca of the sport. But in India, the NBA has had its task cut out, what with cricket presenting a near impenetrable line of defence.

Television TV Channels Sports
CNN-News18 'Indian of the year' 2017 special Telecast on 9 and 10 December

MUMBAI: The awards night of the annual and flagship initiative of CNN-News18, ‘Indian of the Year – 2017’ will be telecasted on the 9 and 10 of December at 9:30 PM on the channel. The initiative, whichrecognizes and awards the exceptional contribution and achievements of the iconic Indian citizens...

Television TV Channels News Broadcasting
Music channels bet on shows to boost viewership

MUMBAI: Seems like music channels are playing second fiddle to online music platforms when it comes to playing tracks. In an attempt to grab more eyeballs, pure-play music channels on television are moving away from the music content and focusing more on the youth-centric shows.

Television TV Channels Music and Youth

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories