Zee Entertainment Enterprises Limited (NSEI:ZEEL) board has approved a fundraise of up to $239.6 million, the Indian broadcaster said on June 6, 2024. The company had two major deals - a $10 billion merger with Sony India and a $1.4 billion cricket broadcasting deal with Walt Disney - fail this year and was forced to cut costs and reduce losses in its business to a meet key profit target. Zee said it will use the funds to "enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape".

The company plans to raise the funds through equity shares or any other eligible securities, via a combination of private placements, qualified institutions placements, and preferential issues, it added.