Financial Daily from THE HINDU group of publications
Thursday, Oct 14, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 14, 2004 |
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Corporate
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Announcements Markets - IPOs CyberMedia to hit market with Rs 17-cr IPO Our Bureau
New Delhi , Oct. 13 CYBER Media (India) Ltd today announced plans to go public with an initial public offering of 170 lakh equity shares of Rs 10 each aggregating to Rs 17 crore. The company would go for a fixed price issue in the price range of Rs 50-60 and will not take the book-building route currently favoured by most companies. Addressing a press conference here today, the Chairman and Managing Director, Mr Pradeep Gupta, said that the issue proceed would be utilised for publishing two magazines targeted at the international audience. The first one would be a magazine on business process outsourcing and will be titled global outsourcing, while the second will be on the biotechnology sector and will be called BioSpectrum, he said. BioSpectrum will be launched from Singapore, Mr Gupta said. The company plans to hit the market somewhere around the end of November or the beginning of December. The company had reported a profit of Rs 3.7 crore on a turnover of Rs 58 crore for the year ended March 2004.
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