Eros Media World’s India Subsidiary Announces Equity Fund Raise
Eros Media World PLC (ErosMedia, Eros" or the Company) (NYSE: ESGC), a global Indian media and entertainment company, announced today that the Board of Directors of Eros International Media Limited (EIML), its majority-owned subsidiary, recently approved EIMLs plans to raise up to an amount in Indian Rupees (INR) equal to approximately $54 million (equivalent of 4,050m INR), of equity capital via a public issuance of Convertible Warrants (the Warrants) in India, subject to EIML shareholder approval and other customary and regulatory approvals.
- Eros Media World PLC (ErosMedia, Eros" or the Company) (NYSE: ESGC), a global Indian media and entertainment company, announced today that the Board of Directors of Eros International Media Limited (EIML), its majority-owned subsidiary, recently approved EIMLs plans to raise up to an amount in Indian Rupees (INR) equal to approximately $54 million (equivalent of 4,050m INR), of equity capital via a public issuance of Convertible Warrants (the Warrants) in India, subject to EIML shareholder approval and other customary and regulatory approvals.
- The existing Ordinary shares of EIML are listed on the Bombay Stock Exchange (the BSE) and the National Stock Exchange of India Limited (the NSE).
- Apart from the holding company Eros WorldWide FZ LLC, the issue is subscribed by marquee investor funds such Aegis Investment Fund, Aidos India Fund Ltd, Forbes EMF, NAV Capital Emerging Star Fund, Nexpact Limited, Vespera Fund Limited and India Opportunities Growth Fund - Pinewood Strategy.
- The Warrants issuance will provide incremental liquidity to invest in EIMLs operations, help fund future growth initiatives and improve balance sheet strength for EIML.