Zee Entertainment Enterprises Ltd saw a blockbuster deal in which about 54.30 million shares, or 5.6% of the company, changed hands in a bundled deal. However, the details of the buyer and seller are not yet known.

Meanwhile, the stock was flat at Rs 208.20 from the previous close, while India’s benchmark Sensex fell 1.22% or 738 points to 59,692.

OFI Global China and other funds managed by the Invesco Developing Markets Fund plan to sell their 5.6% stake in Zee Entertainment Enterprises, according to news reports. Shares are expected to sell in the 199.80-208.15 per share range.

Invesco and its associated funds are Zee’s largest public shareholders and held as much as 18% in September 2021, when it called for the ouster of the company’s managing director, Punit Goenka.

However, Invesco dropped its call to oust Goenka in May 2022 and has since supported the company’s proposed merger with Sony Pictures Networks India. In March last year, Invesco sold 74.3 million ZEEL shares in bulk at an average price of Rs 281.46 per share, representing a 7.74% stake in the company, for a total price of Rs 2,092 crore. It also sold a 5.5% stake last October. The stake was sold for Rs 1,396 crore.

Zee’s March 31, 2023, quarter results will also be closely watched. The company reported a 91% year-on-year drop in net profit to Rs 24 crore in the third quarter. Its total revenue for the period was flat at Rs 2,127 crore.