Umesh Vasantlal Modi, a former promoter of Jupiter Infomedia Limited , has completely exited the company by disposing of his remaining 2,37,872 equity shares on June 29, 2026. The shares were sold on the open market via BSE Limited, reducing his stake to zero. This transaction follows a prior sale of 90,000 shares on June 24, 2026. Modi clarified that he is a former promoter who sold his majority shareholding to new acquirers who became promoters pursuant to an open offer, and he is currently neither a promoter nor a director.

The disclosures were submitted under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, and Regulation 7(3) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The filing confirmed that there were no transactions in derivatives, futures, or options by the connected person during the period.

Shareholding Details

The equity share capital of Jupiter Infomedia Limited stands at ₹10,02,00,000, divided into 1,00,20,000 equity shares of ₹10 each. Prior to the sale on June 29, Modi held 2,37,872 shares, representing 2.37% of the total voting capital. The disposal of these shares constituted 2.37% of the total voting capital.

Jupiter Infomedia Limited shareholders approved raising funds through the preferential issue of 81,95,000 convertible warrants at an issue price of ₹61 per warrant during an Extraordinary General Meeting (EGM) held on June 24, 2026. The meeting, conducted via video conferencing, also sanctioned alterations to the company's Memorandum of Association, including changes to the object clause, name clause, and capital clause to increase authorized share capital. Additionally, the registered office will be shifted from Maharashtra to Gujarat following the approval of a special resolution.

The board sought confirmation for the appointment of four directors as part of the special business. Ms. Kajal Gopal Baldha was confirmed as Whole Time Director under the Promoter Category, while Mr. Viren Sudhirbhai Bakraniya and Mr. Ankit Dave were confirmed as Directors under the Professional Category. Ms. Payal Dhamecha was appointed as an Independent Director. The meeting also approved a reclassification request received from the promoters of the company.

Mr. Malay Desai, Practicing Company Secretary, served as the Scrutinizer for the meeting, ensuring the voting process was conducted fairly. The E-voting facility was provided to members pursuant to Section 108 and 109 of the Companies Act, 2013, and relevant SEBI regulations. Although four shareholders had requested to speak, none raised questions during the question-answer session.

Resolutions Passed

The shareholders passed ten resolutions during the meeting, covering director appointments and structural changes. The key resolutions included the preferential issue of warrants and the alteration of the registered office clause. All resolutions were passed with the requisite majority and were deemed effective as of June 24, 2026.

The Scrutinizer will submit the report on voting results within 48 hours from the conclusion of the meeting. The E-voting window remained open until 11:35 A.M. on June 24, 2026, following the conclusion of the proceedings at 11:20 A.M.