Zee Entertainment Approves Rs 600 Crore Share Buyback At Rs 91 Per Share

Zee Entertainment Enterprises Ltd (ZEEL) has approved a share buyback worth up to Rs 600 crore, with its board clearing the repurchase of up to 6.59 crore equity shares at Rs 91 apiece.

The buyback will be conducted through the tender offer route and represents approximately 6.86% of the company's total paid-up equity share capital. Promoters and members of the promoter group will not participate in the proposed buyback.

The decision follows a review of the company's financial position, free cash flow, business outlook and shareholder expectations. Zee said the move aims to enhance shareholder returns and strengthen investor confidence in its long-term growth prospects.

Zee Entertainment Chairman R Gopalan said the board believes the company's intrinsic value is not adequately reflected in its current market valuation. He added that the buyback is intended to safeguard shareholder interests and support long-term value creation.

CEO Punit Goenka said the company remains focused on strengthening its content and digital businesses, improving operational efficiencies and exploring new growth opportunities.

The company also reiterated its focus on technology-led innovation, digital expansion and new monetisation opportunities as part of its broader growth strategy.