Eros International IPO watch: Indian film entertainment company Eros International Plc filed the amended IPO (initial public offering) registration statement with the U.S. Security And Exchange Commission recently, showing the company intends to list its A ordinary shares on the New York Stock Exchange under the symbol “EROS.” The company did not disclose the number of the shares offered and the estimated IPO price range in the latest regulatory filing. The company will use the proceeds received from the public offering to fund new co-productions and acquisitions, to grow our digital and other distribution channels and for general corporate purposes.
Eros International Plc is an Indian film entertainment company which is engaged in co-producing, acquiring and distributing Indian language films in multiple formats worldwide.
The company grew revenues from $149.7 million for fiscal 2010 to $164.6 million for fiscal 2011, EBITDA from $53.2 million for fiscal 2010 to $58.6 million for fiscal 2011. Net income during that period increased from $42.4 million to $47.6 million.
Deutsche Bank, Morgan Stanley and Merrill Lynch, Pierce, Fenner & Smith are acting as representatives of the underwriting syndicate of the Eros International IPO. Deutsche Bank, Morgan Stanley, Merrill Lynch, Pierce, Fenner & Smith, Citigroup and UBS Securities are acting as the joint book-running managers on this deal.
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Eros International IPO