Zee Entertainment board approves Rs 600 crore buyback at Rs 91 a share
Zee Entertainment's board approved a buyback of shares at Rs 91 each, worth up to Rs 600 crore, through a tender offer with a 25 November 2026 record date, its NSE filing shows.
Key points
- Zee Entertainment's board approved a share buyback on 12 November 2026, according to the company's filing with the National Stock Exchange.
- The company will buy back up to 6,59,34,065 shares at Rs 91 each, up to Rs 600 crore, or 6.86% of its paid-up equity capital, the filing says.
- Shareholders on the 25 November 2026 record date can tender shares; the promoter group does not intend to take part, per the filing.
Zee Entertainment Enterprises Limited's board approved a buyback of up to 6,59,34,065 equity shares at Rs 91 a share on 12 November 2026, for an amount of up to Rs 600 crore, according to the company's filing with the National Stock Exchange. The buyback will be made through the tender offer route, and the record date is 25 November 2026.
What Happened
The board met on 12 November 2026 and approved the buyback of fully paid-up shares of face value Re 1 each, the filing says. The shares to be bought back make up up to 6.86% of the company's paid-up equity share capital.
The buyback size is 7.22% of the company's paid-up equity capital and free reserves on a standalone basis, and 6.61% on a consolidated basis, based on audited accounts as at 31 March 2026, according to the filing. The company said this is within the 10% limit allowed under the board approval route of the Companies Act and SEBI's buyback regulations. The amount excludes transaction costs such as brokerage, taxes, stamp duty and advisers' fees.
In a tender offer, shareholders on the record date can offer their shares to the company, which buys them in proportion to holdings. The filing says 15% of the shares to be bought back, or the number small shareholders are entitled to, whichever is higher, is reserved for small shareholders.
The board noted that the promoters and the promoter group do not intend to take part. They held 3.99% of the company's shares on 6 November 2026, according to the shareholding table in the filing. The board formed a buyback committee and appointed Emkay Global Financial Services Limited as manager to the buyback.
What It Means
Shareholders who hold Zee shares on 25 November 2026 will be eligible to take part. The filing says the board or the buyback committee may raise the price and reduce the number of shares, keeping the total size unchanged, until one working day before the record date.
The company said a public announcement setting out the process and timelines will be released in due course.
Sources & Citations
- NSE filing: board meeting outcome on buyback — National Stock Exchange of India