Hindi
Eros plans $250 mn public float on NYSE, to delist from AIM
MUMBAI: Eros International Plc is planning a $250 million public float in the New York Stock Exchange while delisting from the Alternative Investment Market of the London Stock Exchange.
The filmed entertainment company has filed with the United States Securities and Exchange Commission for an initial public offering of its A Ordinary Shares to raise up to $250 million.
Eros said it decided to move to the US capital market as it offers access to additional capital on more favourable terms and increases liquidity. “It will also offer more relevant peer group and broader analyst coverage,” Eros said in its filing.
The number of shares to be offered and the price range for the offering have not yet been determined.
Eros has appointed Deutsche Bank Securities, BofA Merrill Lynch, Citigroup and UBS Securities LLC as joint book-runners for the offering.
The company plans to use the proceeds from the proposed IPO to fund new co-productions and acquisitions of Hindi and regional film catalogue content and film-related content. The IPO money will also be utilised to grow its digital distribution channel and strengthen other distribution channels.
Eros, which was listed on Bombay Stock Exchange and National Stock Exchange in 2010, also revealed that it will not pay any dividends in the foreseeable future and intends to retain future earnings. The company has not declared any dividend since incorporation in 2006 as all profits have been retained and utilised to grow its business.
For the fiscal 2011, the company‘s revenue grew to $164.6 million, from $149.7 million a year ago. Eros has posted revenue of $166.3 million for the nine months ended 31 December 2011, from $124.3 million in the same period of the earlier year.
EBITDA increased to $58.6 million for fiscal 2011 from $53.2 million for fiscal 2010. It stood at $59.6 million for the nine months ended 31 December 2011 compared to $45.4 million a year ago.
The aggregate outstanding debt of the company stood at $228.6 million as of 31 December 2011, with $16.2 million remaining available under existing financing arrangements, and cash and cash equivalents of $120 million.
The company revealed that it will release over 270 new films over the next three fiscal years and has aggregated a film library of over 1,900 films, plus approximately 700 additional films for which it only holds digital rights.
Eros also claimed that its international distribution network extends to over 50 countries, including US, UK, Germany, Poland, Russia, Indonesia, Malaysia, Taiwan, Japan, South Korea, China and Arabic speaking countries, where Indian films are released through dubbing in local languages.
The company intends to list its common stock on the New York Stock Exchange under the symbol “Eros”.
Hindi
Remembering Gyan Sahay, the lens behind film, television and advertising
From a puppet rabbit selling poppadums to Hindi cinema, he framed it all.
MUMBAI: There are careers, and then there are canvases. Gyan Sahay, the veteran cinematographer, director, and producer who passed away on 10 March 2026 in Mumbai, had one of the latter. Over several decades in the Indian film and television industry, he turned lenses, lights, and the occasional puppet rabbit into something approaching art.
A graduate of the Film and Television Institute of India (FTII) in Pune, Sahay built his reputation as a director of photography across a career that stretched from the early 1970s all the way to the digital age. He was the kind of craftsman who understood that a well-composed shot is not merely a technical achievement but a quiet act of storytelling.
For most Indians of a certain age, however, Sahay will forever be the man behind the rabbit. His direction of the iconic long-running television commercial for Lijjat Papad, featuring its now-legendary puppet bunny, gave the country one of its most cheerfully persistent advertising images. It was the sort of work that sneaks into the national subconscious and takes up permanent residence.
His big-screen credits as cinematographer include Anokhi Pehchan (1972), Pagli (1974), Pas de Deux (1981), and Hum Farishte Nahin (1988). In 1999, he stepped behind a different kind of camera altogether, making his directorial debut with Sar Ankhon Par, a drama that featured Vikas Bhalla and Shruti Ulfat, with a cameo by Shah Rukh Khan for good measure.
On television, Sahay was particularly prized for his command of multi-camera production setups, a skill that made him a go-to technician for large-scale shows and reality programmes. In an industry that has never been especially patient with complexity, he was the calm hand on the rig.
In later life, Sahay turned teacher. He participated regularly in masterclasses and Digi-Talks, often hosted by organisations such as Bharatiya Chitra Sadhna, sharing hard-won wisdom on cinematography, the comedy of timing in a shot, and the sweeping changes brought by the shift from celluloid to digital. He was also said to have been involved in a project concerning a biographical film on Infosys co-founder N.R. Narayana Murthy.
Tributes from the film industry poured in following the news of his passing, with colleagues remembering him as a senior cameraman who served as a rare bridge between two entirely different eras of Indian cinema. That is, perhaps, the finest thing one can say of any craftsman: he kept up, and he brought others along with him.
