Street buzz: Deals ahead of CESC demerger

The demerged entities of RPSanjiv Goenka Group’s CESC are set to list on the domestic bourses on Friday. Ahead of their debut, CESC Ventures and Spencer’s Retail have seen some deals in the grey market. On Thursday, shares of Spencer’s Retail changed hands between Rs 280 and 300 per share, while CESC Ventures was trading between Rs 600 and Rs 650.

Many punters bought these shares on hopes that they will list at least 10 per cent above their unofficial prices on Thursday, said brokers. Under demerger scheme, CESC holders with 10 shares got 6 shares of Rs 5 each in retail arm and additional 2 shares of Rs 10 each in CESC Ventures, which will hold tech & realty businesses.