Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of submission of Recommendations of the Committee of Independent Directors (''IDC'') to the Public ....
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Swaraj Shares and Securities Pvt Ltd, the Manager to the Offer, has submitted to BSE the recommendations of the Committee of Independent Directors (IDC) of Jupiter Infomedia Ltd on an open offer made by Arix Capital Ltd (Acquirer 1) and Mrs. Kajal Gopal Baldha (Acquirer 2). The open offer is for up to 26,05,200 shares (26% of voting share capital) from public shareholders at ₹52.00 per share, aggregating to a maximum consideration of approximately ₹13.55 crore in cash. The open offer was triggered by a Share Purchase Agreement dated April 9, 2025, under which the acquirers agreed to buy 51,00,000 shares (51% of voting capital) from the existing promoter group at ₹50.00 per share (totalling ~₹25.55 crore). The IDC has reviewed the offer documents and recommended that the open offer price is fair, reasonable, and in line with SEBI (SAST) Regulations, advising shareholders to independently evaluate and make informed decisions.
This is a change-of-control transaction — the promoter group is exiting Jupiter Infomedia with a 51% stake sale to Arix Capital Ltd and Mrs. Baldha, triggering a mandatory 26% open offer at ₹52/share for public shareholders. Retail investors holding the stock can tender shares in the open offer if they find the price attractive, or hold/evaluate independently. The stock could see short-term price movement towards the offer price as the open offer window opens.