Cyber Media pegs IPO at Rs 50-60

Cyber Media, the publishers of a host of speciality magazines including Dataquest, PCQuest, Voice&Data, BioSpectrum, Living Digital, DQ Channels India and DQ Week, today annouced its decision to go for an initial public offering to raise Rs 17 crore. The price-band per share is fixed at Rs 50-60 per share.

The fund raising programme is essentially to finance the company's global expansion plans that include launch of two internatioanl publications and a BPO venture.

It is planning to launch 'Global Outsourcing'"" a BPO services centric magazine in the domestic market that will follow its international launch. The company's biotech industry focussed magazine"" BioSpectrum"" will be launched in Singapore.

The move, according to the company, is in line with the phenomenal biotechnology industry growth rate of 39 per cent and India's increasing expertise in this arena.

It claims to be the first Indian media house to launch global publications.

CyberMedia sought the Centre's permission to launch the Business Week in India. It has targeted an annual turnover of Rs 75 crore for this financial year against Rs 58.1 crore in 2003-04.

Cyber Media is the latest company to jump the IPO bandwagon. In the last two years, the industry has seen a number of media companies including NDTV, TV Today, TV 18 going public.

CyberMedia is South Asia's first and largest specialty media house, with nine publications in infotech, telecom, consumer electronics and biotech; and an end-to-end media value chain including the internet, events and television.

The group's media services include market research, content outsourcing, multimedia, gaming and media education, the company said in a media release.