The stake was acquired after Eros International this month completed the transfer of its primary share listing from London’s second tier Alternative Investment Market to the main New York Stock Exchange.
Eros cut back the scale and pricing of its recent share sale below its initially indicated range. Finally it sold 5 million shares at $11 apiece.
The company, which is operated from London is a major financier of Indian movies and has distribution operations that span India and 50 territories overseas. Most recently it handled Sanjay Leela Bhansali’s “Ram-Leela” (pictured), adding to a catalog of some 2,000 titles.
With its shares currently trading at $11 the company has a market capitalization of $252 million. It also controls Eros International Media, its Indian subsidiary which has its own separate share listings on both the main Indian bourses.