India’s mutual fund homes have elevated their stake in Zee Leisure in all the 9 quarters for the reason that Sony merger announcement in December 2021.
As of the December quarter, the home mutual funds held a 32.49% stake in Zee Leisure, which is greater than double the 12.16% stake they held on the finish of the December 2021 quarter when the deal was introduced.
The rise in stake additionally corresponds with the exit of its largest shareholder Invesco, which together with Oppenheimer, held near 18% stake in Zee on the time of the merger announcement.
Whereas Invesco Creating Markets Fund exited the inventory by promoting its 7.8% stake in April 2022, the OFI World China Fund earlier pared a 5% stake between October and December 2022, earlier than making an entire exit in April 2023.
Among the many funds that personal a considerable stake in Zee Leisure as of the December quarter embody ICICI Prudential Worth Discovery Fund, Nippon India Multi-Cap Fund, and HDFC Mid-Cap Alternatives Fund, amongst others.
Shares of Zee Leisure haven’t re-tested their pre-deal value of ₹347.8, which was the closing value on December 21, 2021, a day earlier than the deal was introduced.
The inventory opened 10% decrease on Tuesday, a day after the deal was scrapped.
(Edited by : Amrita)
First Revealed: Jan 23, 2024 9:23 AM IST
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