Invesco to sell 5.51% stake in Zee Entertainment for over Rs 1,300 cr

This is the second block deal by Invesco in seven months, which offloaded 7.8% stake in Zee Entertainment in April

Invesco Developing Markets Fund, which has a 10.14 per cent stake in Zee Entertainment, will sell half of its stake in the company in a block deal on Tuesday, sources told Business Standard. Invesco holds the stake Zee Entertainment through OFI Global China Fund. 52.93 million shares amounting to 5.51 per cent stake will be offloaded at a price range of Rs 250-Rs 263.7 per share.

This is a discount of 5.32 per cent (at the lower end of the price band) to Monday's closing price of Rs 263.30 per share on the BSE. At the lower end of the