Financial Daily from THE HINDU group of publications
Wednesday, Apr 27, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 27, 2005 |
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Info-Tech
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IPOs Markets - IPOs CyberMedia IPO opens on May 4 Our Bureau
Mumbai , April 26 CYBERMEDIA (India) Ltd is entering the capital market with a public issue of 28.23 lakh equity shares of Rs 10 each. The IPO, priced at Rs 60 per share, is expected to help the company raise Rs 16.94 crore. The issue opens on May 4 and closes on May 9. Khandwala Securities Ltd are the sole lead managers to the issue. Part of the funds to be raised at the IPO will be used to launch Global Outsourcing, a new BPO publication, and the Singapore edition of BioSpectrum, the company's biotech publication. The remaining funds will be used to publish Business Week India and Content BPO. "Singapore is investing $1.7 billion in biotechnology in the next five years and we will have the first mover advantage," said Mr Pradeep Gupta, Chairman and Managing Director, CyberMedia. Mr Gupta and his family members are the promoters of the company. The company has tied up with McGraw Hill to publish an Indian edition of Business Week, an international business magazine, said Mr Gupta. CyberMedia's media services arm also plans to diversify its content BPO business to different markets. The company has nine publications in the infotech, telecom, consumer electronics and biotech areas, including Dataquest, PCQuest, and Voice and Data.
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