The 80,000 sq ft centre will be the company's epicentre to build a strong cohort of tech, data and talent.
US-based investment firm Invesco has decided to pare down its stake in Zee entertainment by up to 7.8% after it announced a share sale plan on Wednesday.
The stock jumped 16.83 per cent to settle at Rs 299.15 on BSE. On NSE, it rallied 16.89 per cent to close at Rs 299.30.
Invesco said that it retains the right to requisition a fresh EGM if the merger is not completed as proposed.
IndusInd Bank had moved to National Company Law Tribunal claiming default of Rs 83.08 crore against the media & entertainment firm.
The takeover of Zee and the emergence of a unified programming of over 100 channels, with combined revenues of over USD 2 billion will be a game changer.
Analysts say the Sony-Zee arrangement could create the country's second-biggest entertainment network, rivalling market leaders Disney.
The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence.
A total of 4.68 crore shares were traded on Tuesday against the three-month daily average of 2.84 crore, NSE cash market data shows.
Counsel for ZEEL, Gopal Subramaniam, told the court Invesco was attempting to run a profitable company to the ground.
In a strongly worded judgement in favour of Zee, the High Court said that sometimes a company must be saved from its own shareholders, however well-intentioned.
A single bench of the high court presided over by Justice GS Patel had asked the media company if it was willing to hold such a meeting.
'Why didn't Invesco make its plans public earlier? Does good corporate governance only apply to corporates and not their institutional investors?,' Goenka said in a statement.
It also clarified that differences arose between ZEEL MD Punit Goenka and Invesco over the founders' bid to raise stake by subscribing to preferential warrants.
The role of Invesco, as Zee's single largest shareholder, was to help facilitate that potential transaction and nothing more.