Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Jupiter Infomedia Ltd ("Target Company").
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Swaraj Shares and Securities, acting as Manager to the Offer, has submitted the Draft Letter of Offer to BSE for an open offer on Jupiter Infomedia Ltd. The offer is triggered by a Share Purchase Agreement dated April 9, 2025, under which Arix Capital Limited and Mrs. Kajal Gopal Baldha (Acquirers) will buy 51,10,000 shares (51% of voting capital) from existing promoters at ₹50 per share, totaling ₹25.55 crore. Following the takeover, a mandatory open offer is being made to public shareholders for up to 26,05,200 shares (26% of voting capital) at ₹52 per share in cash, with a maximum payout of about ₹13.55 crore. The tendering period is tentatively scheduled from June 6, 2025 to June 20, 2025. The offer involves a change in control of the listed company.
Public shareholders of Jupiter Infomedia can tender their shares at ₹52 each during the open offer window in June 2025. The takeover signals a change in control of the company, and the stock may see price movement around the offer window.