Eros Worldwide fixes floor price at Rs200/share for stake sale

Eros Worldwide, a promoter entity of Eros International Media, today said it has fixed the floor price at Rs 200 per share to sell 2.8% stake in the film distribution company, thereby aiming to raise up to Rs 51.47 crore.

In a BSE filing, Eros International Media said the floor price for the share sale shall be Rs 200.

Yesterday, Eros Worldwide had submitted notice of offer for sale of an aggregate of 25,73,710 equity shares of Rs 10 each of Eros International Media representing 2.8% of the equity share capital by promoter through a sale on the separate window provided by the BSE and NSE.

The proposed sale would begin on the separate window of the stock exchanges on December 20, 2012 at 0915 hrs and close on the same day at 1530 hrs, the company had said.

Eros Worldwide held 54.15% stake in the company, as on September 30, 2012. The entire promoter group of Eros International held 77.8% of the company.

Other major shareholders include Eros Digital (23.64%), Indus Capital Advisors (UK) (3.99%) and IDFC Sterling Equity Fund (1.41%).

Shares of Eros International Media today closed at Rs 210.65 on the BSE, up 0.62% from their previous close.