Zee Entertainment Shares Drop as Shareholders Reject Promoters' Plan

nment Enterprises' shares fell 3.2% on Friday after shareholders voted down a special resolution to allow promoters to inject Rs 2,237 crore into the company through preferential warrants. The proposal, which required 75% approval, garnered only 60% support, with 40% of shareholders opposing it. While retail investors, holding over 40% of the company, backed the plan with nearly 80% in favor, institutional investors were less supportive, with 52% voting against it. Proxy advisory firms had urged shareholders to reject the proposal, citing governance concerns and other red flags.