Jupiter Infomedia plans IPO, to list on SME platform of BSE

Jupiter Infomedia is coming out with a public issue of 20.40 lakh equity shares at a price of Rs 20 per share, aggregating to Rs 4.08 crore.

The issue of Jupiter Infomedia will open on July 30 and the shares will be listed on SME platform of BSE Ltd, a company statement said here.

Out of the total issue, 5.40 lakh shares will be reserved for the promoters, 1.80 lakh for the market maker and 13.20 lakh shares will be offered to the public. The issue and the net issue will constitute 58.45% and 37.82%, respectively, of the post issue paid up equity share capital of the company.

Jupiter Infomedia is a web-based company with online publications on business, encyclopedia and yellow pages.

"The objective of the issue is the company plans to start marketing of its well established brand JimTrade.Com in order to capitalise the growth and development opportunities. The company intends to set up offices at Mumbai, Kolkata, Ahmedabad, Chennai & Delhi. The total project cost is Rs 4.14 crore which will be part financed from the public issue," company's CMD Umesh Modi said.

The lead manager to the issue is Aryaman Financial Services and registrar to the issue is Karvy Computershare.