Zee Entertainment shares rise over 3% ahead of FIFA World Cup

Shares of Zee Entertainment Enterprises Ltd (ZEEL) will be in focus heading into trade on Thursday after the board approved plans to raise at least Rs 2,300 crore in one or more tranches to support strategic and business initiatives, as the media company seeks to bolster its balance sheet and invest in new growth opportunities.

In a stock exchange filing on Wednesday, Zee said its board cleared the fundraising proposal at a meeting held on June 10. The company did not disclose the method through which the capital would be raised.

"The Board of Directors has approved the raising of capital by the Company of minimum Rs 2,300 crore in one or more phases/tranches to fund the strategic and business initiatives," Zee said, adding that the board would continue evaluating the various fundraising options available.

The stock will also be in focus as the FIFA World Cup 2026 kicks off today with Mexico hosting South Africa. The company secured exclusive media rights for FIFA events in India until 2034, resolving uncertainty surrounding the broadcast of the 2026 FIFA World Cup in one of the world's largest football-viewing markets.

The agreement gives Zee rights to air 39 FIFA tournaments over the next eight years, including the FIFA World Cups scheduled for 2026 and 2030. The financial terms of the deal were not disclosed.

Alongside its core television business, Zee has been broadening its presence in emerging segments through investments in ventures such as micro-drama platform Bullet and visual effects studio PhantomFX. The company has also been building a dedicated sports broadcasting portfolio.

The fundraising announcement follows a challenging March quarter. Zee reported a loss for the quarter ended March 2026 as profitability was impacted by higher operating costs and weaker advertising demand, with spending affected by geopolitical tensions in the Middle East.

Zee Entertainment Enterprises reported a consolidated net loss of Rs 104 crore for the January-March quarter of FY26, compared to a net profit of Rs 188 crore in the year-ago period. The media & entertainment company's operating revenue declined 7% to Rs 2,025 crore in Q4 FY26 versus Rs 2,184 crore posted by the company in the corresponding quarter of the previous financial year.

The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) loss stood at Rs 269 crore versus Rs 285 crore in Q4 FY25 and Rs 240 crore in Q3 FY26. The adjusted EBITDA declined 51% YoY and 42% QoQ.

Zee shares are up 13% in 2026 and down about 22% in the last 1 year.

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Zee Entertainment shares rise over 3% ahead of FIFA World Cup, Rs 2,300-crore fundraising plans

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