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Sunday, August 18, 2013

Eros to finalise NYSE IPO by August-end

This story first appeared in DNA Money edition on Wednesday, Aug 14, 2013.

Eros International, a leading global media and entertainment company, is likely to finalise its New York Stock Exchange (NYSE) listing plan by this month-end.

The company had filed for an initial public offering (IPO) for $250 million with the US Securities and Exchange Commission in March last year.

Eros International has a BSE-listed subsidiary / associate company called Eros International Media (EIML). The latter’s officials could not be reached for comment.

An industry source, however, said EIML is very likely to disclose the NYSE listing details at its annual general meeting on August 28.

In another development, EIML has partnered with YM Movies of music luminary A R Rahman to produce a Hindi feature film which will mark the latter’s debut as a film producer.

“It is a 16-year relationship with Eros and this time it is extending the role a bit more. It is about exploring the other side of creative partnership,” said Rahman in a statement.

The yet-to-be-titled film has been conceived and written by Rahman with help from international and local talent and will celebrate youth’s sensual love, art and self-discovery.

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