Bollywood Distributor Eros Plans $100 Million IPO, To Fund New Media Plans

Indiantelevision.com: A global distributor and creator of bollywood content, Eros International, plans to raise $100 million through a listing in London’s AIM markete. It may dilute about 15-20 per cent equity. It intends to use the money to set up digital cinema exhibition business in India, besides entering new media such as online, cable, wireless and mobile. Eros is promoted by Kishore Lulla, who was also involved in the launch of B4U channels.
Television Point: The company has an extensive film library of more than 1,000 titles and distributes Bollywood films in the UK, US, Australia and the UAE as well as in India. It has had an average Bollywood box office market share of 40 per cent in the UK over the past eight years, the company said.
For the nine months ending December 31, 2005, Eros generated turnover of about $32.2 million and profit before interest, tax, goodwill and amortisation of $12.6 million. Estimated on a pro forma basis, revenues in the year ending March 31, 2006 generated turnover of about $44.2 million.
It had recently launched www.bondemand.tv, an online Bollywood movie and music download service, and has entered into an arrangement with Intel to further develop this initiative using Intel’s ViiV technology that is intended to allow consumers to receive content via their computer to TV.
Related:
Eros International Headed For London IPO
Film Distributor Eros International Ties Up With Intel For Bollywood On Demand

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