Bollywood company Eros lists on LSE
With an initial market cap of Rs 1,483.8 crore, the firm becomes the largest listed entity in the Indian film industry.india Updated: Jul 04, 2006 17:29 IST
Bollywood film distribution company Eros International, which raised Rs 189.6 crore through equity placement in the UK, listed its shares on the London Stock Exchange on Tuesday.
The company held road shows in UK to raise Rs 189.6 crore (22.5 million pound) through share offerings in the last couple of days, an LSE official said.
On its admission to AIM, LSE's global market for innovative and growing companies, the company had an initial market capitalisation of approximately Rs 1,483.8 crore making it the largest listed company in the Indian film industry.
Founded in 1977, Eros has a library containing in excess of 1,300 titles, an extensive worldwide distribution network and more than 110 employees based in India, the UK, USA, UAE, Australia and Fiji.
Welcoming Eros International, AIM Head Martin Graham said, "The Indian film industry is one of the country's most high profile and successful export sectors and Eros International is a key conduit through which its massive output can reach a wider global audience."
Commenting on the admission to AIM, Chairman and CEO of Eros International, Kishore Lulla said, "We are pleased that the placing has been well received and welcome our new shareholders."