The Rs 4.08 crore IPO of Jupiter Infomedia, a web infomedia company with online publications on business, encyclopedia and yellowpages, has opened for subscription.

It has fixed the issue price at Rs 20 a share and planned to offer 20.4 lakh equity shares through the issue, which closes on August 1.

Company develops various informative online publications/verticals in house. Jupiter aims to develop an online information library that would provide in-depth information to its visitors on various topics.

At present, it has three online publications that include an online business directory (B2B portal operating through the website - www.JimTrade.com), an Encyclopedia on India (www.IndiaNetzone.com) and an online yellowpages directory (www.jimyellowpages.com).

Jupiter Infomedia intends to use issue proceeds for purchasing and setting up of offices in Mumbai and Kolkata; renting offices in Ahmedabad, Chennai and Delhi; and initial operating expenses for the marketing/branch office (first three months).

Company's net profit declined by 63.25% YoY to Rs 2 lakh in FY12 and total income fell by 19.36% to Rs 64.49 lakh. In FY11 also, its net profit dropped by 46.9% YoY to Rs 5.47 lakh, but total income rose by 3% to Rs 79.97 lakh.

Aryaman Financial Services Limited is the book running lead manager to the issue.