 "Eros International Media surges 11% on pact with RIL")
Eros International Media has surged 11% to Rs 219 on the BSE in opening deal after the company announced that Reliance Industries (RIL) through a subsidiary, is acquiring 5% equity stake in the NYSE listed Eros International PLC (Eros). Eros is the promoter of Eros International Media.
“RIL, through a subsidiary, has agreed to subscribe to a 5% equity stake in NYSE listed Eros at a price of $15 per share, which represents an 18% premium to last closing price. The transaction is subject to customary regulatory and other approvals,” Eros International Media said in a press release.
“RIL, through a subsidiary, has agreed to subscribe to a 5% equity stake in NYSE listed Eros at a price of $15 per share, which represents an 18% premium to last closing price. The transaction is subject to customary regulatory and other approvals,” Eros International Media said in a press release.
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