Media conglomerate Zee Group's recently demerged group firms Zee News and Wire & Wireless
India will begin trading on Wednesday after chairman Subhash Chandra rings the opening bell at the Bombay Stock Exchange.
NEW DELHI: Media conglomerate Zee Group's recently demerged group firms Zee News and Wire & Wireless India will begin trading on Wednesday after chairman Subhash Chandra rings the opening bell at the Bombay Stock Exchange.
The company's news broadcasting arm Zee News Ltd and cable business entity Wire and Wireless India Ltd will be listed on the BSE, National Stock Exchange as well as Calcutta Stock Exchange.
As per a scheme of demerger, Zee Telefilms has hived off its news and cable businesses and was renamed as Zee Entertainment Enterprises Ltd, which had begun trading on bourses as a demerged entity on December 18.
A company spokesperson said Zee News and WWIL will be listed on the stock exchanges on January 10.
A record date would be announced for demerger of Direct Consumer Business of ZTL into ASC Enterprises Limited, to be renamed Dish TV India Ltd.
Dish TV India is also likely to listed by the end of this month, Chandra had said.
Earlier last month, Chandra had said that the Zee group would grow over five times to Rs 11,000 crore in four years, ending March 2011 as a result of restructuring of the flagship company Zee Telefilms.
The restructuring, entailing hiving off of businesses of Zee Telefilms in three new entities would unlock the business potential and give new revenue streams to the group apart from plugging the leakages, Chandra had said.
As per the demerger scheme, shareholders of ZTL were entitled to receive 45 shares of ZNL and 50 shares of WWIL for every 100 shares held in ZTL.
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