IRIS Mediaworks has recently entered into media, technology and telecom industry through its acquisition of the Streamcast group of companies ("the group") in India. Streamcast provides next generation technology services on sub-optimal networks using the Software As A Service (SaaS) model. In October 2018, the Group had announced its partnership with BSNL Maharashtra to deliver high quality digital services, primarily education, video and audio content, under the aegis of its brand Edmission via JUMP. JUMP is the world's first digital ecosystem that can operate, amongst other services, high definition video streaming on ultra-low bandwidth with zero data cost to the consumer.
On February 19, 2019, IRIS, now the owner of Stream cast Group, launched two pathbreaking digital solutions - JUMP, a new digital ecosystem and Edmission - the world's most inclusive digital education platform - in Sindhudurg, Maharashtra. Hon'ble Minister Deepak Kesarkar (Minister of State for Home, Planning and Finance), the Chief Guest for the evening inaugurated the first Edmission Centre in Sawantwadi and unveiled the first JUMP Set Top Box (STB) amidst an audience of over 2000 people.
The launch event was held at the 'Honble Balasaheb Thackeray Gyaan Prabodhini' - a world class education institute set up by Edmission. The institute aims to serve as a benchmark for delivering global standard educational content for all age-groups i.e. from courses such as Learn English, Vedic Math to special training for civil services exams such as Maharashtra Public Service Commission (MPSC), Union Public Service Commission (UPSC), Banking, Family Business/ Small Business Management courses, etc.
Further to the commitment made in October 2018, the Group also commenced its application process to distribute 100,000 free JUMP STBs to the deserving residents of Sindhudurg district. The JUMP STB powered by a SIM card in it, allows users/students to access Edmission content as well as other services such as unlimited Facebook, WhatsApp, audio calling to any number in India, video calling, etc., at their homes using rich graphics and video as well as interact with educators with no other connectivity requirement other than the SIM card.
The first JUMP STB was unveiled by the Chief Guest, Hon'ble Minister Deepak Kesarkar along with other dignitaries present on stage. Registrations to avail the JUMP STB commenced at this launch event and it received an overvvhelming response with over 2000 people in attendance. The registration process was twofold: distribution of application forms as well as submission of filled forms with KYC documents.
Speaking on the occasion, Hon'ble Minister Deepak Kesarkar said, "In line with the Group's business philosophy of enriching human lives via technology, it gives me immense pride and happiness that they chose Sindhudurg as their first region to launch two revolutionary brands - Edmission and JUMP. Our youth needs quality education and access to global knowledge to excel in life. This educational centre of Edmission will be a solid landmark centre for interested students to prepare and train for competitive exams. I would like to thank the JUMP team for taking this initiative as well as investing heavily in technology to open doors for the youth of Sindhudurg."
As the horizon for such activities expands to other geographies, the process will be replicated across other districts and regions of Maharashtra followed by rest of India.
Shares of IRIS MEDIAWORKS LTD. was last trading in BSE at Rs.30.7 as compared to the previous close of Rs. 30.85. The total number of shares traded during the day was 1511789 in over 239 trades.
The stock hit an intraday high of Rs. 32.5 and intraday low of 29.3. The net turnover during the day was Rs. 46414087.