Arbitrage opportunity in United Spirits

United Spirits will remain active this week, as Diageo Plc’s open offer ends on Thursday. Traders and investors would be keen to benefit from the arbitrage opportunity, as even those who had bought the stocks on Monday would be eligible for the open offer that was made at ₹3,030 a share. July futures price (at ₹2,567) is quoting at a discount with respect to the underlying price of ₹2,774.3, as unaccepted shares will return to the shareholders by July.