Zee Entertainment shares are rallying in trade on Wednesday after government records showed OFI Global China Fund LLC, managed by Invesco, has received approval to invest Rs 418 crore in the broadcaster, marking the fund's return as a shareholder after almost three years.
According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the approval relates to OFI Global China's purchase of Zee shares during the January-March quarter of FY26.
The investment is seen as a notable development given Invesco's history with Zee. The fund was once the company's largest shareholder, holding an 18% stake, before a high-profile corporate governance dispute led to its gradual exit.
In April 2023, Invesco sold its remaining 5.11% stake through block deals worth around Rs 1,004 crore, bringing its association with the media company to an end.
Invesco had played a central role in Zee's boardroom battle and was actively involved during the company's proposed merger with Sony, a deal that was eventually called off in January 2024.
The latest approval also comes shortly after the company's board approved plans to raise at least Rs 2,300 crore through one or more tranches to strengthen its balance sheet and fund growth initiatives across businesses such as digital media and sports.
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