You will be redirected back to your article in seconds

Eros seeks to raise $75 million

Indian company looks to acquire more titles

Eros Intl., the Indian distribution and production company listed on London’s Alternative Investment Market, has announced that its wholly owned subsidiary Eros Intl. Media aims to raise rupees 3.5 billion ($75 million) through an initial public offering.

The Bollywood behemoth will use $60 million to acquire and co-produce Hindi, Tamil and other regional film rights and use the balance to fund future expansion.

Eros stated that the IPO issue is for less than 25% of the post-issue capital of the company. Currently, of 71.4 million equity shares, Eros Worldwide holds 69.6% and Indian company Eros Digital holds 30.39%, with the rest being held by individuals.

The company is also looking at a pre-IPO placement of up to $4.3 million with some investors.

In December, Eros signed a $25 million three-year term facility with Lloyds Banking Group replacing an existing short-term rolling $35 million facility from Citibank.

In the six-month period ending September, Eros posted a net profit of $10.2 million on a revenue of $73.5 million. The company has a debt of $45.5 million.

Eros holds distribution, homevideo, TV syndication, Internet and other digital new media rights for more than 1,000 Hindi, Tamil and other Indian language films, including helmer Sabbir Khan’s summer hit “Kambakkht ishq.”

Eros holds distribution, home video, TV syndication, Internet and other digital new media rights for more than 1,000 Hindi, Tamil and other Indian language films.

More Film

  • Valerian review

    EuropaCorp Posts Half-Year Loss of $83 Million

    Eros Intl., the Indian distribution and production company listed on London’s Alternative Investment Market, has announced that its wholly owned subsidiary Eros Intl. Media aims to raise rupees 3.5 billion ($75 million) through an initial public offering. The Bollywood behemoth will use $60 million to acquire and co-produce Hindi, Tamil and other regional film rights […]

  • Aaron Sorkin

    Aaron Sorkin to Receive Creative Impact in Screenwriting Award at Palm Springs Film Festival

    Eros Intl., the Indian distribution and production company listed on London’s Alternative Investment Market, has announced that its wholly owned subsidiary Eros Intl. Media aims to raise rupees 3.5 billion ($75 million) through an initial public offering. The Bollywood behemoth will use $60 million to acquire and co-produce Hindi, Tamil and other regional film rights […]

  • Palm Springs Where to eat Drink

    Palm Springs Hotter Than Ever: Places to Eat, Drink, Stay

    Eros Intl., the Indian distribution and production company listed on London’s Alternative Investment Market, has announced that its wholly owned subsidiary Eros Intl. Media aims to raise rupees 3.5 billion ($75 million) through an initial public offering. The Bollywood behemoth will use $60 million to acquire and co-produce Hindi, Tamil and other regional film rights […]

  • 'Icarus' Returning to Theaters After Russia

    'Icarus' Returning to Theaters Following Russia Olympics Ban (EXCLUSIVE)

    Eros Intl., the Indian distribution and production company listed on London’s Alternative Investment Market, has announced that its wholly owned subsidiary Eros Intl. Media aims to raise rupees 3.5 billion ($75 million) through an initial public offering. The Bollywood behemoth will use $60 million to acquire and co-produce Hindi, Tamil and other regional film rights […]

  • Sebastian-Stan I Tonya Scene Stealer

    Sebastian Stan Talks Jeff Gilooly, Mustaches and 'I, Tonya'

    Eros Intl., the Indian distribution and production company listed on London’s Alternative Investment Market, has announced that its wholly owned subsidiary Eros Intl. Media aims to raise rupees 3.5 billion ($75 million) through an initial public offering. The Bollywood behemoth will use $60 million to acquire and co-produce Hindi, Tamil and other regional film rights […]

  • Palm Springs Film Festival Programming Honchos

    Brains Behind Palm Springs Festival Programming Grilled

    Eros Intl., the Indian distribution and production company listed on London’s Alternative Investment Market, has announced that its wholly owned subsidiary Eros Intl. Media aims to raise rupees 3.5 billion ($75 million) through an initial public offering. The Bollywood behemoth will use $60 million to acquire and co-produce Hindi, Tamil and other regional film rights […]

More From Our Brands

Access exclusive content