Cyber Media (India) (CMIL) has diluted its minority stake in its wholly owned subsidiary - Cyber Media Research & Services (CMRSL) to Group of investors and Promoters of CMIL. The primary purpose of the divestment was to raise funds for repayment of dues to banks and financial institutions. The total amount raised is Rs 3.00 crore.
There is no change in the management and controlling group of CMRSL. This is part of the continued efforts by the promoters of CMIL to revive the company and reduce its debt obligations.
Cyber Media is the largest specialty media house in South Asia and amongst India’s top five magazine publishers. The main business activity of the company includes- Edutainment, Interactive Content, market research, Job Search, Publishing, Internet, Events, Content & Pub Services.
