Eros International, which produces and distributes Indian films in over 50 countries, announced terms for its IPO on Tuesday. The Secaucus, NJ-based company plans to raise $200 million by offering 12.5 million shares (38% insider) at a price range of $15 to $17. At the midpoint of the proposed range, Eros International would command a fully diluted market value of $818 million.
Eros International, which was founded in 1977 and booked $208 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol EROS. Deutsche Bank, BofA Merrill Lynch, UBS Investment Bank, Jefferies and Credit Suisse are the joint bookrunners on the deal.
