94 crore fully convertible warrants to promoter group entity Sunbright Mauritius Investments Ltd, nearly seven weeks after its board first approved a fund-raising plan. Earlier this month, the Securities Appellate Tribunal stayed a Sebi order to debar ZEEL for two months and its CEO Punit Goenka for one year from capital markets in the Hyderabad land pledge case.

The Preferential Issue and Allotment Committee approved the allotment on August 21, following the extraordinary general meeting nod on July 31 and in-principle approvals from the NSE and BSE dated July 27, besides a Securities Appellate Tribunal order dated August 14, the company said in a regulatory filing." 76 crore as the warrant subscription price from the allottee," ZEEL said in a regulatory filing.

95 crore warrants." 5 equivalent to 75 per cent of the warrant issue price," it said.

As warrants have only been allotted and not converted, there is no immediate change in ZEEL's paid-up share capital, the company clarified. 90 per cent stake in the company on a fully diluted basis upon full conversion of the warrants, as per the disclosure.

99 per cent as of March 2026. 52 crore.

The " Fully Convertible Warrants" have a "face value of Re 1/- each" at an issue price of Rs 126, which includes a premium of Rs 125.