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Others CyberMedia to raise Rs 17 crore through IPO; issue opens on May 4

CyberMedia to raise Rs 17 crore through IPO; issue opens on May 4

Author | Sakshi Talwar | Saturday, Apr 23,2005 7:34 AM

CyberMedia to raise Rs 17 crore through IPO; issue opens on May 4

CyberMedia has finally decided to go ahead with its IPO to raise Rs 17 crore. The shares of Rs 10 face value will be sold at Rs 60, which is a premium of Rs 50. The IPO opens May 4, 2005.

The objective of the IPO, said Pradeep Gupta, Chairman and Managing Director, Cybermedia, is to raise money for the company's global expansion plans. "In recognition of the importance of the business process outsourcing (BPO) industry to India, we will be launching an international magazine on outsourcing called 'Global Outsourcing', which is currently a supplement with Dataquest. We will also be launching our two-year-old magazine BioSpectrum in the Singapore market."

In addition, the company has planned to work with McGraw Hill to launch an Indian edition of BusinessWeek though approvals for this venture are still pending.

The company also plans to move into the business of content generation as an offshore outsourcing service to international media and IT companies. "We will provide content based BPOs to publishers abroad like BBC Worldwide, Simon & Schuster, etc.," said Gupta.

Established in 1982, Cyber Media (India) Limited is a specialty media and services house with five subsidiaries and two associate companies which, as a group, are engaged in publishing, market research, content outsourcing, multimedia, gaming and media education. The group has nine publications in the infotech, telecom, consumer electronics and biotech areas; and an end-to-end media value chain including the Internet, events and television.

The turnover of the company in the financial year 2003-04 was Rs 58 crore. As the company follows the calendar year, in the nine months April-December 2004 the turnover was Rs 51 crore.

CyberMedia's print titles include Dataquest, PCQuest, Voice & Data, BioSpectrum, Living Digital, DQ Channels India, DQ Week (Chennai, Delhi and Mumbai). Cyber India Online is a leading technology website, and includes online editions of all CyberMedia titles.

Media services of the company include IDC India, the leading IT and telecom research company in the region and amongst global leaders in technology research; CyberMedia Services (content and publishing BPOservices); CyberMedia Research, which focuses on the media and entertainment sectors; CyberMedia Digital, the multimedia and gaming development and distribution company; and the School of Convergence, for content creators and media managers.

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