Jupiter infomedia Limited's promoter and Managing Director Umesh Vasantlal Modi has executed a significant share disposal transaction, reducing his stake in the company through open market sales. The transaction, completed on March 25, 2026, involved the disposal of 6,00,000 equity shares and was formally disclosed to BSE Limited under regulatory compliance requirements.

Transaction Details

The share disposal represents a substantial reduction in Modi's shareholding position within the company. The transaction details are presented below:

Regulatory Compliance

The disclosure was made in accordance with multiple SEBI regulations to ensure transparency in promoter transactions. Modi submitted the required documentation under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, and Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015.

The formal disclosure was submitted to BSE Limited on March 26, 2026, with Modi signing the documents in his capacity as Seller, Promoter and Managing Director. His Director Identification Number (DIN) is 01570180.

Company Share Capital Structure

Jupiter Infomedia Limited's equity structure remained unchanged following the transaction:

Impact on Promoter Holdings

The transaction resulted in a significant reduction in Modi's promoter shareholding, decreasing from 12.75% to 6.76% of the company's total share capital. The disposal of 6,00,000 shares represents 5.99% of Jupiter Infomedia's total voting capital. No encumbrances, voting rights other than shares, or convertible securities were involved in this transaction.

The company's total diluted share capital remains at Rs. 10,02,00,000, divided into 1,00,20,000 equity shares of Rs. 10 each, as no convertible securities or warrants are outstanding.

Jupiter Infomedia Limited has announced significant leadership changes at its material subsidiary following a major ownership transition. The company disclosed the resignation of two whole-time directors from Netlink Solutions (India) Limited's board, marking the completion of a substantial acquisition process.

Director Resignations at Material Subsidiary

The Board of Directors of Netlink Solutions (India) Limited took note of the resignations of two key executives effective March 26, 2026:

Both directors tendered their resignations due to the change in management and control following the completion of an open offer under SEBI takeover regulations. With these resignations, they will also cease to be members of all Board committees where they previously served.

Open Offer Details and Acquisition Structure

The resignations stem from a comprehensive acquisition process involving three acquirers who made an open offer under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011:

The open offer targeted 26.00% of the voting share capital of Netlink Solutions (India) Limited. This acquisition arose from the indirect acquisition of voting rights and control over Netlink pursuant to the acquisition of 51.00% of Jupiter Infomedia Limited's paid-up equity share capital by the acquirers under a share purchase agreement.

Regulatory Compliance and Impact

The transaction was conducted in accordance with Regulations 3(1), 4 and 5(1) of the SAST Regulations. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, reflecting the company's commitment to transparent communication with stakeholders.

With the completion of these resignations, Mr. Minesh Vasantlal Modi and Mrs. Rupa Minesh Modi fully cease to hold any direct or indirect control or management over the affairs of Netlink Solutions (India) Limited. This represents a complete transition of management control at the material subsidiary level.

Corporate Structure Changes

The development marks a significant shift in the corporate structure of Jupiter Infomedia's subsidiary operations. Netlink Solutions (India) Limited, being a material subsidiary, plays an important role in the group's overall business operations. The change in management control through the open offer process ensures compliance with takeover regulations while facilitating the ownership transition.

The disclosure was signed by Mitali Khunteta, Company Secretary and Compliance Officer, demonstrating proper corporate governance procedures in communicating these material changes to the stock exchange and investors.