Zee Entertainment allots 20.94 crore warrants to promoter group after SAT relief

•Zee Entertainment allotted 20.94 crore warrants to promoter group Sunbright Mauritius Investments Ltd at Rs 126 per warrant.

•The warrants are fully convertible into equity shares with a face value of Rs 1, and Sunbright paid 25% of the issue price upfront.

•The remaining 75% is payable within 18 months, and if converted, Sunbright's stake in Zee Entertainment would reach 17.90%.

•The allotment follows SAT relief and a SEBI order regarding alleged unauthorized use of a Zee Entertainment-owned property.