FinanceAsia.com: It was supposed to be an $100-million IPO according to the earlier reports. Anyway, bollywood distributor Eros International listed on London’s Alternate Investment Market and raised about about 22.5 million pounds ($41.48 million). The listing was on July 4. The company has an initial market capitalisation of 176 million pounds (Rs 1,490 crore). This will make it the largest listed company in the Indian film industry. Eros chairman and chief executive, Kishore Lulla said, -€œWe are now at a point in our history where the business is of sufficient scale to exploit the significant opportunities presented to us by the growing Indian entertainment sector globally. As a listed company, we will have the increased financial strength, visibility and currency to help us achieve our objectives.-€
For the nine month period ended December 31, 2005 Eros recorded revenues of $32.2 million on which it earned an EBITDA of $12.6 million.