Oppenheimer sells 6 firms' stocks worth Rs 263 cr to Invesco

US-based Oppenheimer Developing Markets Fund on Tuesday sold shares worth Rs 263 crore of six firms, including HDFC, Kotak Bank and TCS, to Invesco Equity Fund. According to data available with BSE, Oppenheimer sold HDFC's shares worth Rs 98.29 crore, Kotak Bank shares valuing Rs 82.37 crore to Invesco Developing Markets Equity Fund.

Similarly, TCS shares worth Rs 34.11 crore, Zee Entertainment shares of Rs 24.28 crore, Cholamandalam Investment's shares of Rs 10.58 crore and DLF shares valuing Rs 14.10 crore were sold by Oppenheimer to Invesco. Earlier this year, Invesco said that it has successfully completed acquisition of Oppenheimer Funds, bringing the firm's total assets under management (AUM) to USD 1.2 trillion.

Last month, Essel group announced that Invesco Oppenheimer Developing Markets Fund has agreed to buy up to 11 per cent stake in Zee Entertainment Enterprises Ltd (ZEEL) for Rs 4,224 crore.