Digital
Why OpenAI is hiring 100 ex-bankers: Inside the ChatGPT-maker's secret project to automate Wall Street's grunt work
Breaking: Zee Entertainment to pump ₹90 crore into two subsidiaries for new ventures
In a board meeting held today, the company approved the subscription to Optionally Convertible Debentures (OCDs) worth up to ₹50 crore in ZBullet Enterprises Limited (ZBEL) and up to ₹40 crore in Advance Media Distribution Limited (AMDL).
ZBEL, incorporated on June 12, 2025, is set to launch a micro-drama app named “Bullet”, which will feature short-form series aimed at younger audiences.
Zee Entertainment Enterprises Limited (ZEEL) has announced a combined investment of up to ₹90 crore in two of its subsidiaries to bolster their upcoming business ventures.
In a board meeting held today, the company approved the subscription to Optionally Convertible Debentures (OCDs) worth up to ₹50 crore in ZBullet Enterprises Limited (ZBEL) and up to ₹40 crore in Advance Media Distribution Limited (AMDL). Both entities are newly incorporated and yet to commence operations.
ZBEL, incorporated on June 12, 2025, is set to launch a micro-drama app named “Bullet”, which will feature short-form series aimed at younger audiences. AMDL, incorporated on June 28, 2025, plans to operate in the distribution sector, offering integrated services combining linear TV, broadband distribution, and OTT aggregation.
The investments, to be made in one or more tranches, will be through cash consideration and are intended to meet ongoing business needs, capital expenditure, and working capital requirements. Both ZBEL and AMDL will remain subsidiaries of ZEEL following the transactions.
No governmental or regulatory approvals are required for the funding, and the deals will be executed on an arm’s-length basis. ZEEL’s promoters have no direct interest in the investments.
Storyboard18 had earlier reported that Zee Entertainment Enterprises Limited (ZEEL) had announced an Extraordinary General Meeting (EGM) scheduled for July 10, 2025, to seek shareholder approval for raising up to Rs 2,237.44 crore. The funds were to be raised through preferential allotment of fully convertible warrants to its promoter group entities, Altilis Technologies Private Limited and Sunbright Mauritius Investments Limited. The proposal was not approved by the shareholders.
ZEEL has estimated to spend Rs 1000 crore for investment in building new businesses such as an app for short form content, development of edutainment content for kids, developing and licensing of sport content properties, building of live content business, investment into expanding distribution segment of the business and investment into R&D for developing delivery of content into 3D format.
It will further infuse Rs 712.44 crore into inorganic expansion of business through M&A transaction – in the space of general entertainment including content and related tech companies and additional spends of Rs 525 crore for general corporate purposes.
SPOTLIGHT
From Delhi’s sharp-tongued lyricists to Chennai’s bilingual innovators and North-East India’s experimental beatmakers, Rap 91 LIVE’s lineup was a sonic map of the country’s cultural diversity.
Read MoreEnd of the Old Guard? Publicis outperforms, WPP declines, Havas rises, Omnicom readies IPG merger
As WPP reels from revenue declines and vows sweeping restructuring, Publicis and Havas ride strong AI-led client demand. With Omnicom and IPG on the cusp of a historic merger, the global advertising landscape braces for a power realignment built on data, technology, and efficiency.