Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under the Provisions of Regulations 3 (1), and 4 read with Regulations 13 ....
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On the reaction day the stock moved 11.5 pts more than Nifty Microcap 250 and 11.1 pts more than its Internet & Catalogue Retail peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Acquirers Arix Capital Limited and Mrs. Kajal Gopal Baldha have signed a Share Purchase Agreement on April 9, 2025 to buy 51,10,000 shares (51% of voting capital) of Jupiter Infomedia from the existing promoter family (Modi family) at ₹50 per share, aggregating to about ₹25.55 crore. This has triggered a mandatory open offer under SEBI takeover rules for an additional 26,05,200 shares (26% of voting capital) from public shareholders, also at ₹50 per share, with a maximum total payout of about ₹13.03 crore in cash. The existing promoters will exit the company, except Mr. Umesh Modi who will retain roughly 19.73%. Assuming full acceptance in the open offer, the Acquirers will collectively hold 77% of Jupiter Infomedia and take over control. The Acquirers have stated no intention to delist the company and will ensure minimum public shareholding compliance.
Public shareholders of Jupiter Infomedia get a clear exit opportunity at ₹50 per share in cash. The stock may see price action around the offer price, and the company is changing hands with new promoters taking control — a significant event for minority investors to monitor.