Mumbai: Indian movie distributor Eros International Media Ltd said on Wednesday it has set a price band of Rs 158 to Rs 175 for its initial public offering to raise as much as Rs 350 crore.
The company, a wholly-owned subsidiary of Eros International Plc, plans to use the proceeds of the offering to acquire and co-produce Hindi and other regional films.
Eros International Media owns rights to over a thousand films, a company official said.
“Content library is the key competitive advantage we have. It is the crown jewel of our Indian business and we will monetize it in times to come,” Jyoti Deshpande, executive director, told reporters.
Enam Securities Private Ltd, Kotak Mahindra Capital Co Ltd, Morgan Stanley India Co Private Ltd and RBS Equities (India) Ltd are lead book running managers of the offering, which will open on 17 Sept. and close on 21 Sept.
For anchor investors the book opens on 16 Sept, one of the bankers said.