Zee Entertainment Enterprises Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, prepared by CARE Ratings Limited. The report, reviewed and approved by the Audit Committee and the Board of Directors, confirms that the utilization of proceeds from the preferential issue is in accordance with the disclosed objects. The total issue size was ₹3,143.52 crore. The company has indicated its intention to use funds for various projects including sports rights and production, new initiatives, micro-drama production, and potential mergers and acquisitions.
Monitoring Agency Report Filed
Zee Entertainment Enterprises Limited (ZEEL) has formally submitted the Monitoring Agency Report, as required by SEBI regulations, for the quarter ending September 30, 2026. The report has been compiled by CARE Ratings Limited, the appointed Monitoring Agency.
Confirmation of Fund Utilization
The core of the report confirms that the utilization of funds raised through a preferential issue is aligned with the objects stated in the offer document. This assurance is a key aspect for investors who participated in the preferential offering. The total amount aggregated to ₹3,143.52 crore.
Review and Approval
The report underwent a thorough review and received approval from both the Audit Committee and the Board of Directors of Zee Entertainment Enterprises Limited on October 30, 2026. This signifies internal validation of the fund utilization disclosures.
Breakdown of Utilisation Plans
The monitored objects for fund utilization include:
- Sports rights and production: Original cost estimated at ₹1000.00 crore.
- New Initiatives – Content and technology & Digital: Original cost estimated at ₹450.00 crore.
- Micro-drama (Bullet): Original cost estimated at ₹450.00 crore.
- Kids edutainment, Animation: Original cost estimated at ₹300.00 crore.
- Potential M&A: Original cost estimated at ₹944.00 crore.
The company has also detailed the deployment of unutilized proceeds, primarily in fixed deposits and a balance in the current account, amounting to ₹733.09 crore and ₹48.09 crore respectively, as of September 30, 2026.
It was noted that the company transferred ₹15.55 crore from the Warrant Subscription Account to its current account, leading to commingling of issue proceeds with regular business funds. Approximately ₹30 crore was subsequently transferred for vendor payments, with an expenditure of ₹2.46 crore incurred. Due to the mixed nature of funds, specific identification of issue proceeds against expenditure was not possible, rendering them fungible with overall cash balances.
Source: BSE
