Invesco Limited is an Independent American investment Management Company headquartered in Atlanta, Georgia, with additional branch offices in 20 countries. Its mutual stock is a constituent of the S&P 500 and trades on the New York Stock Exchange.

Invesco Developing Markets Fund, which has a 10.14% stake in Zee Entertainment, would sell half of its stake in the corporation in a block deal on Tuesday, sources reported Business Standard. Invesco holds the stake in Zee Entertainment through OFI Global China Fund. 52.93 million Shares amounting to a 5.51% stake will be unburdened at a price range of Rs 250 to Rs 263.7 per share.

This is a discount of 5.32% at the lower end of the price band to Monday’s closing price of Rs 263.30 per share on the Bombay Stock Exchange. At the lower end of the price band, the share sale would fetch Rs 1,323 crore, while the upper end would raise Rs 1,395 crore in proceeds. A mail sent to Kotak Securities, the single broker for the block deal, occasioned no response until the time of working on pressing. A question to Invesco wasn’t immediately answered.

This block deal will be the second one in seven months by Invesco after it offloaded a 7.8% stake in April for Rs 2,092 crore. The block deal in April had come after Invesco removed its demand for an extraordinary general meeting.

(EGM), which it has been following since September 2021. It was doing this to rebuild the board, citing corporate governance matters.

However, in a U-turn in March, Invesco said it was not pursuing adding six independent directors to Zee’s board. In its place, it would sustain the proposed merger of Zee Entertainment with Sony Television.