Eros International rallies over 5% on RIL stake deal

Eros International Media jumped over 5 per cent early on Wednesday after Mukesh Ambani-led Reliance Industries has agreed to acquire a 5 per cent stake in the media firm through a subsidiary.

Reliance and Eros International Media, part of Eros International have agreed to partner to jointly produce and consolidate content from across the country.

Eros International opened at Rs 219 and touched high and low of Rs 219 and Rs 205, respectively, eventually closing at Rs 206.85, up 4.63 per cent.


“The parties will equally invest up to Rs 1,000 crore in aggregate to produce and acquire Indian films and digital originals across all languages,” RIL said in a release. Shares of RIL were also trading higher 0.55 per cent in the early session.

Mukesh Ambani, Chairman and MD, RIL, in a release said, “We are pleased to join hands with Eros as it will bring further synergies into our plans, making for a win-win partnership.”