CyberMedia’s Rs 17-crore IPO in November; two international publications on anvil

CyberMedia’s Rs 17-crore IPO in November; two international publications on anvil

Author | exchange4media News Service | Thursday, Oct 14,2004 9:03 AM

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CyberMedia’s Rs 17-crore IPO in November; two international publications on anvil

CyberMedia (India) Limited, South Asia’s largest specialty media group, plans to raise Rs 17 crore through an IPO with a proposed price band of Rs 50-60 per share. The IPO will be launched by November-end. Chairman and Managing Director, Pradeep Gupta, says the IPO is part of the firm’s growth strategy to expand globally in the knowledge, media and services domain.

Gupta said the promoters of Cyber Media hold 58 per cent of the equity, while 23 per cent is held by employees and 15 per cent by friends and associates. Post-IPO the promoters’ stake will come down to 41 per cent. The company is targeting an annual turnover of Rs 75 crore this fiscal. A growth rate of 30 per cent has been maintained over the last two years, he said. The group’s turnover in 2003-04 was Rs 58 crore.

As part of its growth initiatives, Gupta said the Media Services arm of CyberMedia, focused on the content BPO business in the US and European markets, is planning to scale up its operations. The Indian BPO sector generated revenues of $ 3.6 billion in 2003-04. Content BPO work alone contributed $ 500 million to this. CyberMedia’s Media Services arm has planned geographical diversification in the rapidly growing markets of the West.

The company is also planning to launch two new international publications shortly, to make it the first Indian media house to launch global publications. A magazine on the BPO business named ‘Global Outsourcing’ will be launched shortly. A pilot copy of the magazine has been circulated in key markets, Gupta informed. The publication will address outsourcing issues from a global perspective. The other title will be ‘BioSpectrum’, a magazine on biotechnology that will be launched in Singapore.

CyberMedia has also applied to the government for permission to launch ‘Business Week’ in India. The publication would target the rapidly globalising Indian companies so that they have up-to-date knowledge on global trends along with an Indian perspective, Gupta said.

Tags: e4m

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