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Eros International Media Limited (EIML), a part of the Eros group, has filed a draft red herring prospectus with the Securities and Exchange Board of India. The company plans to raise Rs. 350 crores ($76.5 million) through the initial public offering (IPO).
EIML intends to use the funds raised through the issue to acquire and co-produce Indian film rights, primarily Hindi language films, as well as certain Tamil and other regional language films. The company intends to also use proceeds to fund Hindi, Tamil and other regional language film projects slated for release in 2011 and 2012.
Amarchand Mangaldas, through their Delhi offices, acted as legal counsel to EIML. The domestic legal advisors to the Book Running Lead Managers (BRLMs) were S & R Associates, Delhi, led by Capital Markets Partner Sandip Bhagat, assisted by Associates Gokul Rajan, Deborshi Barat and Prashant Roy. International legal counsels to the BRLMs was US-based Freshfields Bruckhaus & Deringer LLP.
Eros’ Compliance Officer Rajesh Bhatia handled the in-house legal and compliance matters pertaining to the issue.