| "The listings have been below our expectations. We expected a better price," Chairman Subhash Chandra said at the listing of the companies on the Bombay Stock Exchange today. He described the listing as "the beginning of a new era". |
| Zee News closed at Rs 34.40 after hitting an intraday high of Rs 58.85 and a low of Rs 34.40. WWIL shares settled at Rs 120.80 after reaching the day's high of Rs 139.80. The stock also hit a low of Rs 80 before the closing. |
| Pursuant to the scheme of arrangement, Zee News owns 2.39 million equity shares of Re 1 each, while WWIL has paid up equity of 2.17 million shares of Re 1 each, |
| As per the demerger, Zee Telefilms (ZTL) hived off its news and cable businesses into Zee Entertainment Enterprises, which was listed on December 18. |
| Another demerged entity, Dish TV India, is likely to be listed by this month end. |
| According to the scheme, the cable business undertaking of Zee Telefilms and Siti Cable Network, a wholly owned subsidiary of ZTL, has been transferred to and vested with WWIL. |
| The shareholders of ZTL were entitled to 45 shares of Zee News and 50 shares of WWIL for every 100 shares held. |
| Chandra said the 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 ZTL. He also said WWIL was targeting 50 per cent of the market in conditional access system areas. |
| "Regional channels are expected to see 30-35 per cent growth in margins," he said. |
| The restructuring would "unlock the business potential and give new revenue streams" to the group apart from plugging the leakages, he said. |
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