Zee Entertainment Enterprises Limited (ZEEL) has received government approval for a ₹418 crore (about $46.03 million) foreign investment from OFI Global China Fund LLC under the FDI route for the acquisition of shares during the January-March quarter of FY26.
The approval marks the return of the Invesco-managed OFI Global China Fund LLC to Zee's shareholder base nearly three years after its exit.
In April 2023, the fund sold its 5.11% stake through block deals worth about ₹1,004 crore, offloading 49.1 million shares at ₹204.50 per share. Earlier, it had become Zee's largest shareholder with a stake of nearly 18% after acquiring an 11% stake from the Goenka family for ₹4,224 crore.
During its investment, Invesco sought the removal of CEO Punit Goenka from the board and requisitioned an extraordinary general meeting to reconstitute the board.
It later supported the proposed Zee-Sony merger before exiting through block deals.
The merger was terminated in January 2024 after the companies failed to agree, including on the leadership of the combined entity.
Following the collapse of the deal, Zee implemented cost rationalisation measures, including workforce reductions.
While the television broadcasting business remains challenging, the digital business has achieved operational profitability through cost rationalisation and revenue growth.
Earlier this month, Zee's board approved raising at least ₹2,300 crore in one or more tranches to support strategic and business initiatives and strengthen its balance sheet. The board will further evaluate fundraising options.
The company also secured the media rights for FIFA competitions in the Indian subcontinent, marking its return to sports broadcasting after selling Ten Sports to Sony nearly a decade ago for $385 million.
Earlier this year, Zee cancelled the unused $215.1 million portion of its proposed $239 million FCCB programme after investors cited geopolitical developments and changes in capital allocation priorities.
The company redeemed the remaining $23.9 million outstanding FCCBs.
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As of 30 June 2026, at 12:45 PM, Zee Entertainment Enterprises share price was trading at ₹104 per share, reflecting a decline of 3.09% from the previous trading session.
The latest approval brings OFI Global China Fund LLC back to Zee's shareholder base as the company continues its capital-raising efforts and business expansion across digital and sports broadcasting.
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Published on: Jun 30, 2026, 1:41 PM IST
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