Invesco sells its 5.5% stake in Zee for Rs 1,396 crore

19 Oct 2022 , 09:46 AM

On Tuesday, Invesco-owned companies sold their 5.51% interest in Zee Entertainment Enterprises (Zee). According to data, it sold over 53 million shares for Rs263.7 each to raise Rs1,396 crore.

Some of the purchases included Morgan Stanley, Citigroup, Bank of America, Abvendus, and ICICI Prudential MF. Prior to the investment, Invesco owned 10.14% of Zee. On Tuesday, Zee shares increased 2.79 % to close at Rs270.65 on the BSE. Invesco and the Zee promoters have recently been at odds over board composition and governance problems.

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