Subscribe to Eros International Media IPO: HEM Securities

MUMBAI: HEM Securities has advised investors to ‘Subscribe’ to the initial public offering of Eros International Media.

The company is a part of the Eros Group, which is a global player within the Indian media and entertainment sector that has been in the business close to three decades.

Eros International will enter the capital market Friday with public issue of Rs 350 crore by offering shares in the price band of Rs 158-175 per share.

“The company is bringing the issue at price band of Rs 158-175 which will turn up into p/e multiple of 17-19 at post issue eps on FY0 basis of Rs 9.06.

According to the brokerage, th company plans to expand further into regional language film markets, such as Marathi, Punjabi, Telugu and Kannada markets. It will be exploring digital distribution opportunities based on the experience of the Eros International Group in international markets.

It plans to monetise value from the Eros India Library & consolidate its music catalogues in order to exploit growth from radio, mobile, public performances and internet. It is well poised to cater the opportunities present in the sector.

The proceeds will be used to acquire and co-produce Indian films, including primarily Hindi language films as well as certain Tamil and other regional language films.

The issue closes on Tuesday.