<ul data-eligibleForWebStory="false"><li>Zee Entertainment Enterprises Ltd.'s share price fell by 6.24% after shareholders rejected a proposal to raise Rs 2,237 crore through the issuance of warrants to promoters.</li><li>The resolution failed as the number of votes in favor was less than three times the number of votes against it, with 59.5% in support and 40.5% in opposition.</li><li>Most warrants were intended for issuance to a Mauritian promoter, including ousted board member Punit Goenka, with Sunbright Mauritius Investments Ltd. and Altilis Technologies Pvt. being the sources of funds.</li><li>Approval of the proposal would have led to Sunbright subscribing to over 99% of the warrants, potentially acquiring a 14.92% stake in the company.</li></ul>

Zee Entertainment Shares Fall As Shareholders Reject Rs 2,237-Crore Warrants Issuance Proposal

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