The promoters of ZEE Entertainment Enterprises Limited (ZEEL) have entered into an agreement with Invesco Oppenheimer Developing Market Fund to sell upto 11% stake in ZEEL for Rs. 4,224 crore, implying a price of around Rs. 400/share (~15% premium to today's closing price). This transaction will provide a financial fillip to initiate the repayment process of promoter level debt. Notably, outstanding promoter debt against shares at Essel Group level remains at Rs. 11,000 crore, including accrued interest till date. Management highlighted that both media...