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CyberMedia to tap market
NEW DELHI,
OCT. 13.
CyberMedia, a leading publication group, today announced that it would enter the capital market with an Initial Public Offer by the end of next month to raise Rs. 17 crores to fund expansion projects.
Addressing a press conference, the CMD of CyberMedia, Pradeep Gupta, said shares of Rs. 10 each would be offered in the price band ranging from Rs. 50 to Rs. 60. Following the IPO, the promoter's stake, now at 58 per cent, would get reduced to 49. In the process, 28 per cent of the paid-up capital would be diluted.
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