Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Corrigendum to the Public Announcement dated April 09, 2025, in accordance with the Provisions ....
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Swaraj Shares and Securities, the Manager to the Offer, has submitted a corrigendum to the earlier Public Announcement (dated April 09, 2025) for the open offer on Jupiter Infomedia Ltd. The corrigendum revises the Offer Price from ₹352 to ₹52 per share, payable in cash, for up to 26,05,200 shares (26% of voting capital), with a maximum consideration of about ₹13.55 crore. The open offer is triggered by a Share Purchase Agreement where acquirers Arix Capital Ltd and Mrs. Kajal Gopal Baldha are buying 51,10,000 shares (51%) from the existing promoter group at ₹50 per share, aggregating to about ₹25.55 crore. Post the SPA and full open offer acceptance, the combined acquirer shareholding would rise to about 77.22% of the company.
Public shareholders should note the revised Offer Price of ₹52 per share, which is a significant downward correction from the earlier ₹352 stated in the original announcement. With the SPA price at ₹50, the open offer provides only a marginal premium, and shareholders should carefully evaluate the corrected terms before deciding to tender.