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 existing Chairman and Managing Director, Mr. Umesh Vasantlal Modi, Whole-Time Director and CFO, Mrs. Manisha Umesh Modi, and other family members. The board approved the appointment of Mr. Viren Bakraniya as the new Managing Director, CFO, and a board member. Mrs. Kajal Baldha was also appointed as an Additional Director (Non-Executive and Non Independent). The board has approved the reclassification of the Modi family from 'Promoter/Promoter Group Category' to the 'Public' category, subject to stock exchange approvals.