Jupiter Infomedia Receives Reclassification Requests from Promoter Group
Jupiter Infomedia Limited announced on March 26, 2026, that it received requests from Mr. Umesh Vasantlal Modi, Mrs. Manisha Umesh Modi, Mrs. Kusumben Vasantlal Modi, and Ms. Aishwarya Umesh Modi, members of the Promoter and Promoter Group, seeking reclassification from the ‘Promoter/Promoter Group Category’ to the ‘Public Category’.The requests follow a Share Purchase Agreement dated April 9, 2025, between the aforementioned sellers and Arix Capital Limited and Mrs. Kajal Gopal Baldha, and an Open Offer. The Reclassification Applicants collectively held 70,87,500 fully paid-up equity shares, representing 70.73% of the equity and voting share capital.
Pursuant to the Share Purchase Agreement, the Acquirers have agreed to acquire 51,10,000 fully paid-up equity shares, representing approximately 51% of the total share capital. As a result of the sale and disposal of shares in the open market, the Reclassification Applicants’ total shareholding has fallen to 6.77%, which is less than 10% of the total voting rights of the company.
The intention of the Promoter and Promoter Group members to be reclassified to the ‘Public Category’ was disclosed in the Letter of Offer.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.