The board of Zee Entertainment Enterprises Limited (NSEI:ZEEL) will meet on June 6 to consider and approve a fundraising proposal through the issue of equity or any other securities. The fundraising, if approved, will be done through multiple ways including a qualified institution placement, preferential issue, or any other method. ?A meeting of the Board of Directors is scheduled to be held on June 6 to consider raising of funds by way of issuance of equity shares and/or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods,?

the company said in a filing. The fundraising proposal comes after Sony scrapped its $10 billion merger earlier in January 2024, ending a deal that would have created an Indian TV juggernaut. ZEE since then announced a slew of measures to cut costs and reduce losses in its business, including cutting 15% of its workforce.