Jupiter Infomedia Ltd: New Management and Reclassification of Promoters
Jupiter Infomedia Limited announced changes in its management and board of directors. Following a share purchase agreement and open offer, M/s Arix Capital Limited and Mrs. Kajal Gopal Baldha have acquired 51.00% of the company's voting share capital. This has led to the resignation of Mr. Umesh Vasantlal Modi, Mrs. Manisha Umesh Modi, Mrs. Kusumben Vasantlal Modi, and Ms. Aishwarya Umesh Modi from their positions. The board has approved the appointment of Mr. Viren Bakraniya as the Managing Director, CFO, and a board member, along with Mrs. Kajal Baldha as an Additional Director (Non-Executive and Non-Independent). The board also approved the reclassification of the outgoing promoters from the 'Promoter/Promoter Group Category' to the 'Public' category.
Key Highlights
- Acquisition of 51.00% of Jupiter Infomedia Limited's voting share capital by M/s Arix Capital Limited and Mrs. Kajal Gopal Baldha
- Resignation of existing Chairman and Managing Director, Whole-Time Director and CFO, and other family members
- Appointment of Mr. Viren Bakraniya as Managing Director, CFO, and Additional Director
- Appointment of Mrs. Kajal Baldha as Additional Director (Non-Executive and Non-Independent)
- Reclassification of outgoing promoters from 'Promoter/Promoter Group Category' to 'Public' category