Small-cap stock under ₹50: Zee Media sets board meeting date to consider fundraise. Details here

Small-cap stock under ₹50: Shares of Zee Media Corporation were in focus in trade on Friday, April 4, after the company said it would meet next week on April 8 to consider raising funds via various means.

“Notice is hereby given that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, April 8, 2025, inter alia, to consider and approve the proposal for fund raising through the issuance of equity shares / convertible bonds/debentures/warrants/preference shares/any other equity linked securities (“Appropriate Securities”) through permissible modes, including but not limited to a private placement, preferential issue, or any other method or combination of methods, subject to such regulatory/statutory approvals, as may be required,” the company said in an exchange filing after stock market hours on Thursday.

Stock price trend

Following the announcement, Zee Media Corporation's share price dipped 2.5% to ₹13.10, largely tracking the weakness in the Indian stock market.

Zee Media Corporation shares opened at ₹13.59, slightly higher than the previous close of ₹13.43. But soon came under selling pressure as the stock market fall gathered pace. As of 11.41 am, the small-cap stock was trading at the day's low on the BSE.

The small-cap stock has risen 7% in the past one year while it has gained 45% in the last two years, driving its market capitalisation to ₹819 crore.

Q3 snapshot

Zee Media Corporation posted a loss of ₹22.42 crore in the December 2024 quarter (Q3) as against a loss of ₹35.91 crore in the corresponding quarter last fiscal.

The revenue from operations dipped 4.7% year-on-year (YoY) to ₹15.95 crore in Q3FY25 from ₹16.73 crore in Q3FY24. The company's operating performance was strong in Q3 as it posted an EBITDA of ₹65 lakh versus a loss of ₹2.54 crore on a YoY basis.

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