The Board of Directors of ZEE Entertainment Enterprises Limited (ZEEL) has in-principle approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL.

SPNI will also infuse growth capital into SPNI as part of the merger such that SPNI has approximately $1.575 billion at closing for pursuing other growth opportunities.

• Shares of Shriram Pistons skyrocketed 9% on Acquiring Antolin Lighting
• Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others
• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban: Bandhan Bank, and Others
• India, Canada Hold Talks to Resume Trade Pact Negotiations

Basis the existing estimated equity values of ZEEL and SPNI, the indicative merger ratio would have been 61.25% in favour of ZEEL. However, with the proposed infusion of growth capital into SPNI, the resultant merger ratio is expected to result in 47.07% of the merged entity being held by ZEEL shareholders and the remaining 52.93% of the merged entity being held by SPNI shareholders.

Stock Covered in the news

ZEE Entertainment Enterprises Limited (ZEEL)-View Detailed Analysis