Promoters of Jupiter Infomedia Ltd Seek Reclassification to Public Category

Jupiter Infomedia Ltd announces that Mr. Umesh Vasantlal Modi, Mrs. Manisha Umesh Modi, Mrs. Kusumben Vasantlal Modi, and Ms. Aishwarya Umesh Modi, part of the Promoter and Promoter Group, have requested reclassification from the 'Promoter/Promoter Group Category' to the 'Public Category' under Regulation 31A(10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows a share purchase agreement with Arix Capital Limited and Mrs. Kajal Gopal Baldha, which has triggered an open offer. The Reclassification Applicants held 70.73% of the equity and voting share capital of the Target Company, Jupiter Infomedia Limited. Upon completion of the acquisition, the Acquirers will indirectly own and control the subsidiary of the Target Company, Netlink Solutions India Limited, resulting in a change in control. This will lead to Mr. Minesh Modi and Mrs. Rupa Modi, co-promoters of Netlink, ceasing to be promoters of the subsidiary, and therefore, requiring reclassification as Non-Promoters.