Hinduja Group's IIHL buys 60% stake in Invesco India Asset Management
This is the second major deal by IIHL in recent times as its bid for acquisition of Reliance Capital and its subsidiaries was recently approved by NCLT.
This is the second major deal by IIHL in recent times as its bid for acquisition of Reliance Capital and its subsidiaries was recently approved by NCLT.
The investor valued Swiggy shares at $3,305 as of January 31, 2023, way less than $4,759 in October 2022
Invesco offloaded 5.11% stake in ZEEL at an average price of ₹204.50 apiece, which was acquired by Goldman Sachs Singapore, Morgan Stanley Asia Singapore, and Segantii India Mauritius.
Invesco to pare half of its stake in ZEEL, which currently stands at 10.14%, that could fetch the investor as much as $169.5 million (around ₹1,300 crore).
Invesco, which is Zee's largest shareholder, had called for an EGM to oust MD & CEO Punit Goenka last year.
The fundraising makes Swiggy the latest company to join the 'decacorn club'.
Apart from Sony, ZEE was also in talks with Reliance for a strategic investment deal
The combined company will include 75 TV channels, two film studios, two video streaming services, and a digital content studio.
Theories being floated include incitement by a leading Indian conglomerate; global media baron firing from Invesco’s arms and a China angle—all suggesting attempts on to ruin the Sony-ZEE merger plan.