Zee Media Corporation shares surged nearly 10% in early trading on the National Stock Exchange, touching an intraday high of ₹8.20.
The rally was triggered by the allotment of Foreign Currency Convertible Bonds (FCCBs) to Sun India Opportunities Investing Fund, a Mauritius-based foreign portfolio investor.
The move signals renewed institutional appetite for the media group’s debt instruments amid broader market volatility.
The price action reflects investor optimism regarding the company’s ability to secure offshore funding.
FCCB allotments are often viewed as a positive signal of financial flexibility, allowing the issuer to raise capital in foreign currency while deferring immediate equity dilution.
Traders responded swiftly to the news, driving the stock higher in the opening session.