News Broadcasting
Eros International to dilute 15-20 %, raise $100 million in float on LSE
MUMBAI: Eros International Plc, the company that owns, creates and globally distributes Bollywood content, plans to dilute 15-20 per cent in its initial public offering.
Expressing an intent to float on the London Stock Exchange (LSE) in June, Eros aims to raise $100 million. The company is in the process of filing the prospectus. Evolution Securities is acting as nominated adviser and broker to Eros.
The proceeds of the issue will be utilised mainly for setting up digital cinema exhibition in India, exploitation of content over new media (such as online, cable, wireless and mobile), and expansion of existing businesses.
“Since inception, Eros has enjoyed phenomenal growth and we have a proven track record of organic expansion. We are now at a point in our history where the market is changing rapidly and the business is of sufficient size, reputation and financial strength to exploit the significant opportunities presented to us. As a listed Company we will have the increased financial strength to help us achieve our objectives. We are proud to be bringing the company to the market,” Eros chairman and CEO Kishore Lulla said.
Eros promoter Kishore Lulla was involved in the launch of B4U channels and was chairman of the company for two years. He still owns a small stake in B4U which he founded along with steel major Laxmi Mittal and Kishore Binani. He was responsible for structuring the B4U-Eros deal to launch the UK’s digital satellite and pay TV channel on the BSkyB platform.
Founded in 1977, Eros is the world’s leading distributor of Hindi films. The company has over the last 14 years acquired and distributed an average of 35 films per annum. It has an extensive film library containing in excess of 1,000 titles. Eros has a worldwide distribution network and more than 110 employees based in India, UK, USA, United Arab Emirates, Australia and Fiji.
In the nine months to 31 December 2005, Eros made a profit before tax, interest and goodwill of $12.6 million on turnover of about $32.2 million. “We predict an annual sales of about $44 million at the low end of expectations,” the company said in a release.
Eros’ first major co-production venture, Waqt – A Race Against Time, was the highest grossing Bollywood film in the UK in 2005. The Company intends to progressively increase its production activities.
Eros has also recently launched www.bondemand.tv, an online Bollywood movie and music download service. The company has entered into an arrangement with Intel Corporation to further develop this initiative using Intel ViiV technology that is intended to allow consumers to receive content via their PC to their TV.
News Broadcasting
CNN-News18 to host Fury in the Gulf conclave on West Asia crisis
Three-hour summit to unpack geopolitical fallout and impact on India
MUMBAI: CNN-News18 is set to host a special three-hour broadcast, Fury in the Gulf – War Conclave, on April 7, aiming to decode the escalating West Asia crisis and its far-reaching implications for India.
Scheduled from 4:00 PM to 7:00 PM, the conclave comes at a time when tensions between Iran and the United States are reshaping global geopolitics and triggering economic uncertainty. With India’s deep energy ties, trade links and large diaspora in the Gulf, the developments carry significant domestic relevance.
Built around the theme ‘Conflict, Consequences, and The Future,’ the programme will feature six curated sessions combining one-on-one interviews and panel discussions. The focus is to cut through the clutter and offer viewers a clearer understanding of the fast-evolving situation.
Key sessions include ‘Diplomacy in Times of War’ featuring Shashi Tharoor, and ‘World After the Iran Conflict’ with voices such as Ram Madhav, Reuven Azar, representatives from the European Union and the Iranian Deputy Envoy. Another session titled ‘Another Dunkirk?’ will bring together K. J. S. Dhillon and Jitin Prasada among others.
CNN-News18 editorial affairs director Rahul Shivshankar said, “In times of war, clarity becomes the most powerful tool. Fury in the Gulf – War Conclave brings together credible voices to address the questions and confusion that arise amid an overwhelming influx of information.”
He added that the initiative is aimed at delivering “facts, perspective, and insight” at a time when misinformation can easily cloud public understanding.
Echoing the sentiment, CNN-News18 CEO– English and business news Smriti Mehra said the conflict marks a defining global moment, with consequences that extend well beyond the region. She noted that the conclave seeks to present the crisis with “depth, nuance and responsibility” so audiences can better grasp its real-world impact.
As geopolitical tensions continue to dominate headlines, the conclave positions itself as an attempt to bring order to the noise, offering viewers a structured, insight-led look at a complex and rapidly shifting global situation.
