Eros Int'l files for $250 mln US IPO, to delist from AIM

Fri Mar 30, 2012 7:37pm IST

People buy tickets at a counter in a multiplex movie theatre in Mumbai November 22, 2008. REUTERS/Arko Datta/Files

People buy tickets at a counter in a multiplex movie theatre in Mumbai November 22, 2008.

Credit: Reuters/Arko Datta/Files

Related Topics



REUTERS - Film entertainment company Eros International PLC EROS.L filed for a U.S. initial public offering of up to $250 million and said it intends to delist from London's junior AIM market.

It decided to make the switch as the U.S. capital markets provide a more relevant peer group, broader analyst coverage, increased liquidity and access to additional capital on more favourable terms, Eros, which produces and distributes Indian film content, said.

Eros International is known for the distribution of films like "Zindagi Na Milegi Dobara" (You Only Live Once) and "RA.One", starring Bollywood actors Shahrukh Khan and Kareena Kapoor.

The company claims a distribution network that covers more than 50 countries and has offices in India, the UK, the United States, Dubai, Australia, Fiji, Isle of Man and Singapore.

Eros' Indian unit, Eros International Media Ltd (EROS.NS), was listed on India's Bombay Stock Exchange and National Stock Exchange in 2010.

Several Indian media companies have tied up with their U.S. peers in recent years. Last month, Walt Disney Co (DIS.N) took over UTV Software Communications Ltd, which produces television content in India. In 2009, billionaire Anil Ambani invested $325 million in Steven Spielberg's DreamWorks Studios .

For the nine months ended December 2011, Eros earned $45.5 million on a revenue of $166.2 million, according to its regulatory filing.

Eros named Deutsche Bank Securities, BofA Merrill Lynch, Citigroup and UBS Securities as the underwriters to the offering.

The company intends to list its common stock on the New York Stock Exchange under the symbol "EROS."

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different.

Eros shares were up 2 percent at 242 pence at 1355 GMT on Friday on the London Stock Exchange.

(Reporting by Tanya Agrawal and Brenton Cordeiro in Bangalore; Editing by Sreejiraj Eluvangal)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Comic Con


Toronto Film Festival

Toronto Film Festival

"The Judge", with Duvall and Downey, to open Toronto Film Festival  Full Article 

 Earl Jones Returns

Earl Jones Returns

James Earl Jones back on Broadway in 'You Can't Take It With You'  Full Article 

Unusually Successful

Unusually Successful

'Weird Al' Yankovic still trying to wrap head around No. 1 album.  Full Article 


App Row

Chubby Checker, HP settle lawsuit over penis-measuring app  Full Article 

In Pictures

In Pictures

Slideshow: The littlest prince.  Slideshow 


Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage