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Business News/ Market / Stock-market-news/  Eros shares gain over 2% ahead of rival Shemaroo’s IPO
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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

Shares of Eros rose on Wednesday Shemaroo’s 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. Premium
Shares of Eros rose on Wednesday Shemaroo’s 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.

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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Published: 17 Sep 2014, 11:04 AM IST
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