The company could cede the 75% if a proposed €92.2m rights issue - another plank in its financial restructuring - were not to go ahead.
The disclosure, in a circular issued to INM shareholders, comes as the company looks to get its financial restructuring plans rubber stamped by shareholders.
IN&M, publisher of The Independent and Independent on Sunday, has struggled to pay off €200m (£180m) owed to its bondholders and has proposed an alternative financial solution, involving issuing new shares to bondholders that would give them a 46% holding the company.
Investors will vote to green light the company's financial restructuring plan at an EGM on 26 November.
In the circular, issued yesterday (3 November), the company said: "In the event of no subscription under the rights issue, bondholders would, following completion of the rights issue and the underwriting, be interested in approximately 76% of the enlarged issues share capital."
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