India's Zee fundraising fails as shareholders block founding family from raising stake

Failed Shareholder Vote: Zee Entertainment Enterprises did not secure the necessary 75% shareholder approval to issue warrants for raising funds, which would have allowed the Goenka family to increase their stake from 3.99% to 18.39%.

Concerns Over Fundraising Strategy: Proxy advisory firms advised against the proposal due to worries about share dilution and the implications of using warrants as a fundraising method, amidst a backdrop of cost-cutting and performance improvement efforts by the company.