Eros shares gain over 2% ahead of rival Shemaroo’s IPO
Eros shares jumped as much as 4.7% to Rs260.75 a piece in intra-day trade
Mumbai:Eros International Media Ltd gained as much as 4.7% to ₹ 260.75 apiece in intra-day trade as rival Shemaroo Entertainment Pvt. Ltd’s initial public offering (IPO) is being seen priced at higher multiples.
Shemaroo’s $19.67 million IPO is being seen priced at 15-17 times FY14 earnings, according to traders.
Eros trades at 9.2 times its 12-month forward earnings, Thomson Reuters data showed.
Shares of Eros closed 2.35% higher at ₹ 255 apiece, while the benchmark S&P BSE Sensex rose 0.52% to 26,631.29. Reuters
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