Our Founder & MD, Mr. Shriram Subramanian shares his views on the governance concerns at Zee Entertainment

Our Founder and MD, Mr. Shriram Subramanian, has shared his views on the governance concerns at Zee Entertainment in an interview with CNBC TV-18.

He stated that, “Most often, promoters increasing their shareholding is viewed positively. But given the fact that Zee has faced a lot of issues in the past couple of years, starting with the failed merger with Sony, to the promoters themselves having faced a lot of backlash on funding their other ventures, defaults to banks, etc.”

On the warrant issue, he added, “Only 25% will come upfront, ₹99 per share will come within 18 months. So all these uncertainties create a lot of backlash against the promoters, and investors are not very happy with them either.”

Highlighting board governance, he said, “The public shareholders are actually majority shareholders, as the promoter has only 4% shareholding. The company needs to reconstitute its board by taking the investors into confidence.”

Watch the full CNBC interview: https://www.youtube.com/watch?v=EifsAqPHZ28&t=6s