Close to 60% of Zee investors voted in favour of the issuance of convertible warrants to promoters, while over 40% voted against it.
Public institutions played a significant role in rejecting the proposal, impacting the final decision against the company.
Zee expressed respect for the shareholders' decision and reiterated its commitment to enhancing performance and profitability.
Partners Group is set to acquire a majority stake in Infinity Fincorp for ₹1,950 crore, as Zee focuses on leveraging cash reserves and bolstering itself for future growth and competition.