Regional channels are getting demerged from zee news and the same is getting mergered with zee tele.
The ratio of merger with zee is 19 : 4 ie the shareholer of Zee news will get 4 shares of Zee tele also he will own the shares of zee news which will have news channel in it.
I expect the base valuation of zee news after demerger to be Rs 20/-. Also the demerger date will be announced soon as the scheme is sanctioned by various courts.
There is an arbitrage opportunity between Zeenews & Zeetele as you can buy zee news befor bookclosure & sell zee tele futures.
Buy ZEE News 6650 62.50 415625
Sell ZEE tele futures -1400 265.00 371000
Residual cost of ZEE news 6650 44625
ie cost of each share is RS 6.72
and I value Zee news post demerger at Rs 20 /-