Arix Capital and Kajal Gopal Baldha Launch Open Offer for 26% Stake in Jupiter Infomedia at Rs. 52 Per Share

Jupiter Infomedia Limited is set to undergo a significant change in ownership as Arix Capital Limited and Mrs. Kajal Gopal Baldha have announced an open offer to acquire a substantial stake in the company. The move comes as part of a larger acquisition strategy that includes purchasing shares from existing promoters.

Open Offer Details

Arix Capital Limited and Mrs. Kajal Gopal Baldha have launched an open offer to acquire up to 26,05,200 shares, representing 26% of Jupiter Infomedia's voting share capital. The offer is priced at Rs. 52.00 per share, payable in cash. Assuming full acceptance, the maximum consideration for this public offer amounts to Rs. 13.55 crore.

Acquisition from Existing Promoters

Prior to the open offer, the acquirers have entered into an agreement to purchase a 51% stake from the existing promoter shareholders. This agreement, dated April 9, 2025, involves the following parties:

1. Mr. Umesh Vasantlal Modi
2. Mrs. Manisha Umesh Modi
3. Mrs. Kusumben Vasantlal Modi

The acquisition from the promoters is set at Rs. 50.00 per share, totaling Rs. 25.55 crore for 51,10,000 shares representing 51% of the voting share capital.

Offer Management and Compliance

Swaraj Shares and Securities Private Limited has been appointed as the manager for this open offer. The offer is being made in compliance with Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

Public Announcement and Timeline

As part of the regulatory process, a pre-open offer advertisement has been published on August 18, 2025, in multiple newspapers including:

• Financial Express (English daily, all editions)
• Jansatta (Hindi daily, all editions)
• Mumbai Lakshadeep (Marathi daily, Mumbai edition)

This public announcement serves to inform shareholders and the market about the impending open offer and its terms.

Implications for Shareholders

The open offer provides an opportunity for public shareholders of Jupiter Infomedia to sell their shares at Rs. 52.00 per share, which is Rs. 2.00 higher than the price agreed with the existing promoters. This premium may incentivize shareholders to participate in the offer.

The proposed acquisition, if successful, will result in a significant shift in the ownership structure of Jupiter Infomedia, with Arix Capital Limited and Mrs. Kajal Gopal Baldha potentially controlling up to 77% of the company's voting share capital.

Shareholders and potential investors are advised to carefully consider the terms of the open offer and seek independent financial advice if necessary before making any decisions regarding their holdings in Jupiter Infomedia.