Wednesday, November 13, 2024

Zee Media Corporation Wholly Owned Subsidiary Makes Investment in Fluttr Digimate

Zee Media Corporation Ltd., one of the leading and largest news networks of India, has announced that the Company’s wholly owned subsidiary viz. Zee Akaash News Private Limited has, after obtaining requisite approvals, entered into Agreement for making an investment in Flutrr Digimate Pvt Ltd. The investment shall be made by Zee Akaash News Private Limited by subscribing to equity share and Convertible Warrants, of Flutrr.

Fluttr is into the business of providing information technology solutions and technology
enabled services. the Investment is expected to be completed by December 31, 2024.

Earlier, Zee Media Corporation Ltd. had approved fund raise of up to INR 200 Cr, via the issue of up to 13.33 lakh convertible warrants. The proposed allotees include FIIs UNICO Global Opportunities Fund Ltd., AL Maha Investment Fund PCC – Onyx Strategy, and Ebisu Global Opportunities Fund Ltd.

Zee Media Corporation Limited is one of the leading and largest news networks of India. It has a unique cluster of 19 TV news channels comprising 1 Global, 4 National and 11 Regional language channels, together with 3 digital-only channels and multiple digital brands.

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