Motilal Oswal maintains a 'Neutral' stance on Zee Entertainment shares but has increased the target price to Rs 150.
The company's promoters will invest about Rs 22.4 billion over 18 months through the issuance of 169.5 million fully convertible warrants at a price of Rs 132 per warrant.
Following a strategic review of Zee's growth plans and market perception by a banker, the Board has approved boosting promoter shareholding through the issuance of fully convertible warrants.