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Jupiter Infomedia plans to hit the market with an initial public offer of 20.40 lakh equity shares at Rs 20 a share. The issue will open on Monday. The company intends to raise Rs 4 crore and list on the BSE SME platform, which was launched in March.
Last September, SEBI had granted permission to BSE to launch the exchange to offer a platform to small and medium enterprises (SME) to raise capital. BCB Finance was the first company to list on the exchange followed by Monarch Health Care and Max Alert Systems
Of the entire issue, Jupiter promoters are to subscribe to 5.40 lakh shares, while 1.80 lakh shares have been underwritten by various institutions. Some 13.20 lakh shares will be offered to the public.
Jupiter is into online publications on business, encyclopaedia and yellow pages.
The company intends to intensify marketing activities to capitalise the growth and development opportunities. It will also set up offices at Mumbai, Kolkata, Ahmedabad, Chennai and Delhi.
Aryaman Financial is the lead manager and Karvy Computershare will act as registrar to the issue.
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