Zee Entertainment Approves Rs 600 Crore Buyback at Rs 91
Zee Entertainment's board cleared a tender offer buyback of up to 6.86% of its equity, and its promoters will not take part.
Key Takeaways
- Zee Entertainment will buy back up to 6,59,34,065 shares at Rs 91 each, worth up to Rs 600 crore.
- The buyback covers 6.86% of the company's paid-up equity and will run as a tender offer.
- The Rs 91 price is about 23.8% above the Rs 73.50 close on November 12, 2026.
- The record date is November 25, 2026, and at least 15% is reserved for small shareholders.
- Promoters, who held 3.99% as of November 6, 2026, will not take part.
Table of Contents 6 sections
Zee Entertainment Enterprises' board approved a share buyback of up to Rs 600 crore on Thursday, November 12, 2026. The company will buy back its own shares at Rs 91 each through the tender offer route, and its promoters will not take part.
The buyback covers up to 6,59,34,065 equity shares of face value Re 1 each, or 6.86% of the company's total paid-up equity. Shareholders on the books on the record date of Wednesday, November 25, 2026 can take part. The Rs 91 price is about 23.8% above the stock's closing price of Rs 73.50 on November 12.
Zee Entertainment's Rs 600 crore buyback at a glance
| Detail | Value |
|---|---|
| Company | Zee Entertainment Enterprises Ltd |
| Board approval | November 12, 2026 |
| Buyback size | Up to Rs 600 crore |
| Buyback price | Rs 91 per share, paid in cash |
| Shares to be bought back | Up to 6,59,34,065 |
| Share of paid-up equity | 6.86% |
| Route | Tender offer |
| Record date | November 25, 2026 |
| Closing price on November 12 | Rs 73.50 |
| Premium to that close | About 23.8% |
| Promoters | Will not participate |
| Manager to the buyback | Emkay Global Financial Services |
How Zee Entertainment's tender offer buyback will work
In a tender offer, shareholders who hold shares on the record date can offer their shares to the company, and the company accepts them on a proportionate basis. Zee said at least 15% of the shares in the buyback are reserved for small shareholders.
Its promoters held 3.99% of the company as of November 6, 2026. Company secretary Sangeeta Shetty is the compliance officer for the buyback.
How Zee Entertainment's promoters have moved on their stake this year
The buyback follows a promoter funding plan announced earlier this year. Zee's board cleared the issue of warrants to Sunbright Mauritius Investments, a promoter group entity, at Rs 126 each in July 2026.
| When | What happened |
|---|---|
| July 2026 | Board approves up to about Rs 3,143 crore of convertible warrants at Rs 126 each for Sunbright Mauritius Investments |
| August 2026 | Zee allots about 20.94 crore warrants at Rs 126 each to Sunbright Mauritius and receives Rs 659.76 crore, or 25% of the issue price |
| November 12, 2026 | Board approves a buyback of up to Rs 600 crore at Rs 91 per share; promoters will not participate |
R Gopalan and Punit Goenka on why Zee chose a buyback
Zee said the board approved the buyback after looking at its financial strength, free cash flow and business outlook, along with other routes and feedback from investors and shareholders.
"The decision to approve the buy-back of equity shares reflects our confidence in the Company's potential and fundamental strength to capitalize on the opportunities in the future. The Board believes that the Company's intrinsic value is not appropriately reflected in its current market valuation, and the buy-back represents a prudent opportunity to reinforce confidence in the Company’s capabilities to generate long-term value for shareholders."
"‘Z’ remains on a firm growth trajectory and the Board’s approval on the buy-back of shares further reflects the immense potential of the Company and its robust capabilities to capitalize on the opportunities ahead."
Where Zee Entertainment stands after the buyback approval
Zee Entertainment plans to spend up to Rs 600 crore to buy back up to 6.86% of its equity at Rs 91 per share, with November 25, 2026 as the record date. Its promoters, who held 3.99% of the company as of November 6, 2026, will not tender their shares.
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Frequently Asked Questions
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