Zee Learn, Tree House soar up to 18% as firms revise swap ratio, merge

NEW DELHI: Shares of Zee Learn and Tree House Education & Accessories soared up to 18 per cent in trade after the two companies announced a revised swap ratio for their merger, putting an end to concerns of existing stakeholders.

In separate regulatory filings to BSE, the companies said their boards have approved the revised scheme of amalgamation under which 10 shares of face value Re 1 each of Zee Learn will be swapped with 10 shares of Tree House Education & Accessories.

Shares of Zee Learn soared 16.72 per cent to hit a high of Rs 35.25 on BSE. Tree House Education & Accessories rallied 18.03 per cent to Rs 37.30. The stock had hit a 52-week low of Rs 31.15 on Tuesday.

Zee Learn said the revised scheme would put to rest uncertainty and anxiety among different stakeholders. It will “help mitigate the recent developments in operational performance of Tree House over the past few quarters and would further strengthen Zee Learn’s position in the educational landscape.”