Zee Leisure approves Rs 600-crore share buyback at Rs 91 apiece; promoters to remain out
The corporate’s board authorised the buyback of as much as 6,59,34,065 totally paid-up fairness shares with a face worth of Re 1 every by the tender provide route. The buyback value of Rs 91 per share is payable in money, whereas the full buyback dimension won’t exceed Rs 600 crore.
The proposed buyback represents 7.22% and 6.61% of the mixture paid-up fairness share capital and free reserves, based mostly on the corporate’s standalone and consolidated audited monetary statements, respectively, as of March 31, 2026, in keeping with its regulatory submitting.
The board has mounted November 25, 2026, because the file date to find out shareholder eligibility for participation within the buyback. The corporate will undertake the provide on a proportionate foundation, with the reservation for small shareholders to be decided in accordance with Securities and Alternate Board of India (SEBI) rules.
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The promoters and members of the promoter group have indicated that they won’t take part within the proposed buyback.
Zee Leisure stated the board’s choice adopted a overview of the corporate’s monetary power, free money movement and enterprise outlook, in addition to deliberations on various routes and suggestions from traders and shareholders.”The Board believes that the Firm’s intrinsic worth will not be appropriately mirrored in its present market valuation, and the buy-back represents a prudent alternative to bolster confidence within the Firm’s capabilities to generate long-term worth for shareholders,” R Gopalan, chairman of Zee Leisure, stated.
He added that the board had assessed the corporate’s monetary place, progress plans and shareholder expectations. Administration additionally offered its method to medium- and long-term progress, with a concentrate on strengthening the corporate’s topline and bottomline.
Punit Goenka, chief government officer of Zee Leisure, stated the corporate had taken steps to strengthen its capabilities, sharpen its strategic focus throughout content material, digital and rising progress alternatives, and enhance operational efficiencies.
The corporate stated it will proceed to concentrate on strengthening its core companies, accelerating digital progress, deploying technology-led improvements throughout platforms and exploring new monetisation alternatives.
The board has constituted a buyback committee and delegated powers to it to undertake the mandatory actions in reference to the provide. Sangeeta Shetty, chief compliance officer and firm secretary, has been appointed compliance officer for the buyback, whereas Emkay World Monetary Companies has been appointed supervisor to the provide.
The board or the buyback committee might improve the buyback value and correspondingly cut back the variety of shares proposed to be purchased again, with out altering the general buyback dimension, as much as one working day earlier than the file date, in accordance with relevant rules.
The corporate stated the general public announcement and different paperwork detailing the method and timelines can be issued sooner or later.
Disclosure: This text has been written by Kumar Gaurav, who will not be a Sebi-registered Analysis Analyst or an Funding Adviser. Gaurav and their ‘relative(s)’ (as outlined beneath Part 2(77) of the Corporations Act, 2013) don’t maintain any monetary curiosity within the corporations talked about on this article as of the date of publication. The views/suggestions talked about on this article, wherever relevant, are these of the respective Sebi-registered Analysis Analyst/brokerage and have been reproduced/reported with due attribution. They shouldn’t be construed because the views or suggestions of The Financial Instances Digital or the journalist. Readers are suggested to think about the unique analysis report and make their funding choices based mostly on their very own evaluation. Brokerage disclaimers right here
