Jupiter Infomedia shifts from BSE SME to BSE mainboard platform

Jupiter Infomedia, a Mumbai-based infomedia company with online publication on business, encyclopedia and Yellow Pages has earned the distinction of being the first internet company to successfully migrate from BSE SME platform to main board platform, BSE Limited.

Jupiter is the sixth company, after Anshu's Clothing, SRG Housing Finance, Sangam Advisors, Ashapura Intimates Fashion and Bronze Infra-Tech, to shift from the SME platform to the main bourse this year.

According to a release by the company, equity shares of Jupiter Infomedia, which are already listed under BSE SME Platform, are available for trading on the main platform of the Bombay Stock Exchange from June 3.
"Jupiter Infomedia has a consistent profitability and dividend track record since inception. Shifting to the BSE mainboard platform is a wonderful opportunity for retail investors to participate in our growth story," Umesh Modi, chairman and managing director, Jupiter Infomedia, said.

Jupiter Infomedia has developed the complete software for management of content through a specialised in house team and resources. The cost of building such sophisticated and robust infrastructure is zero in the balance sheet. The content and allied infrastructure is managed by competent team of only 21 people.

"Till now, we have focussed on content creation and soon we shall look forward to monetise existing web assets such as JimTrade, IndiaNetzone and JimYellowpages. Going forward, we intend to develop world class, globally relevant and large scale content in each domain and be profitable even during development stage. We wish to develop more verticals to tap the opportunities in online and e-commerce space in India," Modi added.

JimTrade.com is an online business directory with over 4 lakh product profiles and 20,000 product categories. It also has a subscriber or buyer base of over 10 lakh. IndiaNetzone.com is the largest encyclopedia on India with thousands of research articles on India with copyrights owned by Jupiter Infomedia. JimYellowpages.com is the Yellowpages of India with lakhs of business listings. It is still in the development stage but over 100 cities have already been featured. It aims to include every city and town of India.

Jupiter had a public issue in 2012 and subsequently issued 1:1 bonus shares in the year of 2014.

At 11.59 am, shares of Jupiter Infomedia were trading at Rs 24.60 on the BSE.