Indian film distributor Eros International sets terms for $200 million IPO
Eros International, which produces and distributes Indian
films in over 50 countries, announced terms for its IPO on
Tuesday. The Secaucus, NJ-based company plans to raise $200
million by offering 12.5 million shares (38% insider) at a price
range of $15 to $17. At the midpoint of the proposed range, Eros
International would command a fully diluted market value of $818
Eros International, which was founded in 1977 and booked $208 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol EROS. Deutsche Bank, BofA Merrill Lynch, UBS Investment Bank, Jefferies and Credit Suisse are the joint bookrunners on the deal.