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Jagran Prakashan Promoters Consolidate Shareholding Into JMNIPL

Jagran Prakashan has completed the restructuring of the company, making Jagran Media Network Investment Private Limited (JMNIPL) the holding company of Jagran Prakashan Limited (JPL) holding 188046479 equity shares, constituting 59.46% of issued and paid-up capital, which were earlier held by promoters and their family members. JMNIPL had announced the acquisition of 5.74 per cent stake in Jagran Prakashan, increasing its total holding in the company to 11.48 per cent.

Following this, it informed the BSE that the process of consolidation of individual shareholdings of promoters in terms of approval granted by Ministry of Information & Broadcasting, Govt. of India into Jagran Media Network Investment Private Limited (JMNIPL) has been completed on July 15, 2011.  The transaction was carried out as an inter se transfer block deal on the National Stock Exchange, it said without disclosing the financials involved. JMNIPL is completely owned by the promoters of Jagran Prakashan and their family.

Jagran Prakashan publishes 37 editions and over 200 sub-editions of its newspaper Dainik Jagran, a tabloid called City Plus (23 editions), and I-Next, a bilingual newspaper. It had also acquired Mid-Day Multimedia’s print business inluding publication brands Mid-Day (published from Mumbai, Pune, Bangalore and Delhi), Sunday Mid-Day, Gujarati Mid-day and The Inquilab. On the digital side, Jagran has a tie-up with Yahoo India for Jagran.com, Online Classifieds businessKhojle.in, reverse auction portal Jeetle.in, and also a Mobile Value Added services company called J9 Ventures.

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