Eros plans to raise Rs 3.5 bn

Eros International Plc's subsidairy Eros International Media, is reportedly planning to raise 3.5 billion via an initial public offering.

According to the reports, the company is also planning pre-IPO placement of Rs 200 million with certain investors. The company has filed its draft red herring prospectus (DRHP) with the Securities & Exchange Board of India.

Reports say that, currently of 71.41 million equity shares, Eros Worldwide holds 69.60 per cent stake while Indian company Eros Digital Private Limited holds 30.39 per cent. The remaining is with the individual promoters.

The company plans to Rs 2.8 billion to co-produce Indian film rights, preferably Hindi, Tamil and other regional language films. The findings show that the company released 19 Hindi and 75 regional language films.