Eros Share Discussion Threads

[speedsgh] 28/8/2013 14:05

aimingupward2 - you cynic! ;o)

[smurfy2001] 28/8/2013 14:00

Any IPO news?

[aimingupward2] 28/8/2013 13:56

...... and probably what we will hear, if anything, is that the listing has been postponed again due to the weakness of the rupee.

[aimingupward2] 28/8/2013 13:53

Ah, O.K. Thanks speedsigh. I suspect absolutely nothing will be said today, though, about NYSE listing either in India or here. Just maybe we'll hear something on 28th of next month.

[speedsgh] 28/8/2013 12:30

aimingupward2 - See article in post 8854. As I read it the EIML AGM is on 28/8. The EROS AGM will presumably be at end of Sept as in previous yrs. EROS usually release a Notice of AGM rns at the start of Sept to confirm the AGM date.

Confirmation here -
"Eros International Media Ltd has informed BSE that the Nineteenth Annual General Meeting (AGM) of the Company will be held on August 28, 2013 at 3:00 P.M. at The Club, 197 D.N. Nagar, Andheri (West), Mumbai - 400053 to transact the business as listed in the Notice of the said meeting for the financial year ended on March 31, 2013."

Mumbai is GMT +5:30hrs (BST +4:30hrs) so currently c17:00 in Mumbai. If news is released at the EIML AGM re timetable for EROS IPO/re-listing, it ought to leak fairly soon.

[aimingupward2] 28/8/2013 11:45

The A.G.M. was on the 28th September last year. Why did anyone think it was to be on the 28 August this year?

[zho] 27/8/2013 09:35

India's economic downturn leaves middle classes fearing the worst

Price rises, the falling rupee and a huge balance of payments deficit have prompted predictions of a full-blown economic crisis

[banking1] 27/8/2013 09:30

thx rivaldo - funnily enough eros has lmost broken even for me! lets see what tomorrow brings.

[beep_beep] 23/8/2013 13:37

28 August
Date for the diary



Eros to finalise NYSE IPO by August-end
Wednesday, Aug 14, 2013, 11:45 IST | Place: Mumbai | Agency: DNA
Ashish K Tiwari
Eros International, a leading global media and entertainment company, is likely to finalise its New York Stock Exchange (NYSE) listing plan by this month-end.

The company had filed for an initial public offering (IPO) for $250 million with the US Securities and Exchange Commission in March last year.

Eros International has a BSE-listed subsidiary / associate company called Eros International Media (EIML). The latter's officials could not be reached for comment.

An industry source, however, said EIML is very likely to disclose the NYSE listing details at its annual general meeting on August 28.

In another development, EIML has partnered with YM Movies of music luminary A R Rahman to produce a Hindi feature film which will mark the latter's debut as a film producer.

[rivaldo] 21/8/2013 14:32

Banking1, normally I'd say that if EROS filed on August 28th, then the actual listing wouldn't happen until at least November and possibly December given the huge paperwork involved.

However, given that EROS have already been through the process once (as we know!) they will already have jumped through a lot of the hoops and prepared the paperwork which will only need updating. I don't know what the minimum period between filing and listing is, if there is one (and I can't be bothered to look it up!), but I'd guess that between 30-60 days might suffice.

SCSW's most recent article about EROS from 2 weeks ago is worth a read:

hxxp://www.scsw.co.uk/article-5268.html

"In the upper echelons of Eros HQ the wheels continue turning, albeit slowly: the company has moved from "monitoring the situation" in June '12 to now being "actively engaged with US advisors in order to conclude its listing on the NYSE this year."

As anticipated results for the year to 31 March themselves were skewed by the depreciation of the Rupee against the dollar. Overall sales were up by 4% at US$215m (+10% constant currency) based on 77 film launches, the same number of films as the year before, but including two big blockbusters (Houseful 2 and Sons of Saardaar). Adjusted pretax profit was 17% lower at US$53.3m for eps of 28.9 cents.

As always the pretax profit is reported after amortising the cost of film production and in 2013 this amounted to US$103m or 47% of sales and up US$15m compared to 2012; everyone forgets this but value is created with the very valuable backlist of films. This is a business where the product never leaves the shelf as you sell the same content in multiple formats (television, video or digital new media distribution) and multiple territories for years to come. In particular, with considerable fanfare Eros has formed a joint venture with HBO that launched two pay TV channels in India during March, HBO Defined and HBO Hits, showcasing both Hollywood and Bollywood content. Against the backdrop of the 141 million cable and satellite homes in India, Eros says this is a potentially "game changing" development. Initially it is launched on Dish and Airtel, which have 39% of the market but rolling out to all big cities/cable operators in due course. Investec's guesstimate is that content fees plus a share of the pay TV net profit has scope to add £14m to profit within three years. Only £0.1m is included in this year's forecast of US$78.2m pretax (eps 78.2 cents).

Eros trades on a PE of 8, against comparables of 10-18x for its peers in the US. Investec set a price target of 393p but we're coming round to the possibility this will get a bid approach before long. Buy."

[banking1] 21/8/2013 09:10

if they finalise listing at the agm - when can we expect nyse listing to be completed - any ideas?

[rivaldo] 20/8/2013 12:48

Yep, looks like today is the result of one seller taking profits in a series of trades, so pretty meaningless overall.

Only 8 days before the AGM now.

[banking1] 20/8/2013 12:14

small retrace today before another jump up? looks like we will know more in 8 days! im hoping for £4. 360p would do nicely though!

[rivaldo] 19/8/2013 08:28

Sizeable late trades just reported from Friday, including an 80k buy at 266p - looks like around 1.3m shares traded on Friday in total now.

[napoleon 14th] 18/8/2013 20:59

Doing nicely already!...20% in 2 weeks......
Again? At last!

Late buying suggests US

[zho] 16/8/2013 17:25

>> ... or could this be a bid coming for the company ...>>

Comment from SCSW a couple of weeks ago: "we're coming round to the possibility this will get a bid approach before long. Buy (at 210p)"

[czar] 16/8/2013 16:47

I'm wondering is this about the IPO, or could this be a bid coming for the company, the Hollywood boys are keen to get Bollywood and Disney bought out UTV at a huge premium a while back. Either way the shares could easily see £4+ this year.

[banking1] 16/8/2013 15:51

i think we will see over 300p before the 28th august and more if the listing is confirmed

[loafingchard] 16/8/2013 15:11

Well done those who have stayed the course. I took some more the other day, seemed a no-brainer, wish i had bought more now of course. At a 52 week high now, good luck all

[rivaldo] 16/8/2013 14:17

565,000 shares traded already today. I think the volumes alone tell us that something's happening.

[speedsgh] 16/8/2013 14:05

steady on here, i'm beginning to get giddy!

[rivaldo] 16/8/2013 11:57

5k just bought at the full 255p offer - only 12 days to go to the 28th August AGM:

hxxp://www.dnaindia.com/money/1874373/report-eros-to-finalise-nyse-ipo-by-august-end

"Eros to finalise NYSE IPO by August-end

Wednesday, Aug 14, 2013, 11:45 IST | Place: Mumbai | Agency: DNA
Ashish K Tiwari

Eros International, a leading global media and entertainment company, is likely to finalise its New York Stock Exchange (NYSE) listing plan by this month-end.

The company had filed for an initial public offering (IPO) for $250 million with the US Securities and Exchange Commission in March last year.

Eros International has a BSE-listed subsidiary / associate company called Eros International Media (EIML). The latter's officials could not be reached for comment.

An industry source, however, said EIML is very likely to disclose the NYSE listing details at its annual general meeting on August 28."

[banking1] 16/8/2013 10:05

look like its time for this to take off! lets hope we see the finalised listing details soon! 350 -400p being cited by some....