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Shares of Eros International Media has surged 8% to Rs 582 on the National Stock Exchange (NSE) on reports that the company is in advanced talks to sell a stake in its Eros Now unit to Singapore-based Fullerton Fund Management Co.
The stock hit a record high of Rs 598 in opening trade and has seen a combined around 260,000 shares changed hands on the counter on the NSE and BSE till 0930 hours.
Eros, with a market value of about $1.3 billion (Rs 8,256 crore), is discussing selling 10% of Eros Now to Fullerton, a unit of Singapore state investor Temasek Holdings Pte, the Bloomberg report suggests quoting unnamed person. CLICK HERE TO READ FULL REPORT
Eros Now is Eros International’s streaming platform, with about 19 million subscribers, most of whom are India-based.
The stock hit a record high of Rs 598 in opening trade and has seen a combined around 260,000 shares changed hands on the counter on the NSE and BSE till 0930 hours.
Eros, with a market value of about $1.3 billion (Rs 8,256 crore), is discussing selling 10% of Eros Now to Fullerton, a unit of Singapore state investor Temasek Holdings Pte, the Bloomberg report suggests quoting unnamed person. CLICK HERE TO READ FULL REPORT
Eros Now is Eros International’s streaming platform, with about 19 million subscribers, most of whom are India-based.
