CyberMedia(BSE:532640/NSE:CYBERMEDIA) listed on the Bombay Stock Exchange on Friday at Rs 106 as against its offer price of Rs 60. The CyberMedia stock on NSE touched a high of Rs. 109.30 on Friday.
CyberMedia (India) Ltd., the leading publisher of technology-related magazines in India, launched its initial public offering (IPO) of shares on May 4 at Rs 60 per share. The shares sold constitutes about 28 percent of the post-issue capital, giving the firm a valuation of about Rs 60 crore ($13.7 million). Khandwala Securities lead-managed the issue to raise Rs 17 crore.
Nearly 15 million shares were traded on Friday.
CyberMedia, based in Gurgaon, publishes a set of magazines including "Dataquest" and runs an IT portal, CIOL. In a recent development CyberMedia forged a partnership with US-based Dice Careers and its subsidiary, MeasureUp which is into online assessment of technology skills.
CyberMedia also owns IT research firm IDC India, a franchisee of International Data Corporation.
The company plans to launch a new magazine, "Global Outsourcing" and take its biotechnology magazine, "BioSpectrum" to Singapore, both later this year. The company also plans to offer content services to foreign publishers.
CyberMedia thus has two lines of business, i.e., the media and media services. The Media segment includes sub-segments like print, events and online portal. The Media Services derives its revenues from market research, multimedia content and BPO services.
It will be interesting to see how this stock does in coming days and weeks as it will probably show the road ahead for publishing stocks.