New Delhi, Private news broadcaster Zee Media on Wednesday said it plans to raise up to Rs 200 crore through the issue of equity shares or other eligible securities through various means.

According to a regulatory filing by Zee Media, the company's board at its meeting held on Wednesday gave its approval to explore available options to raise funds through all permitted instruments.

It said the approval is "for an amount not exceeding Rs 200 crore in one or more tranches", subject to shareholders/regulatory and statutory approvals.

The company will explore issuing equity shares or preference shares. It will also explore other eligible securities, including private placement or qualified institution placement or preferential issue.

Earlier, Zee Entertainment, another Essel Group company, had announced plans to raise Rs 2,000 crore to fund its growth.

Zee Media, which operates a consortium of 16 TV news channels, has reported an 11.4 per cent decline in operating revenue to Rs 6,382.9 crore for the financial year ending March 2024.

Its loss has also increased to Rs 98.43 crore in FY 24.

Shares of Zee Media closed 1.67 per cent higher at Rs 14.57 on BSE.