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Eros Worldwide pays off $40 million

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BENGALURU: Eros Worldwide FZ LLC, the promoter of Eros International Media Limited has informed the bourses today that it has completed sale of 11,716,850 shares of EIML between April to August 2017 amounting to over $40 million to reduce its revolving credit facility. The company says that with the paydown from sale of shares and internal accruals, the $123 million facility now stands reduced to approximately $45 million. Post this sale and as of date, Eros Worldwide together with Eros Digital Private Limited continues to own 60.47% of EIML.

Eros International is a leading global company in the Indian film entertainment industry, which co-produces, acquires and distributes Indian language films in multiple formats worldwide.

At the time of filing of this report, EMIL shares of face value of Rs 10 each, were trading at Rs 174.75, down 3.21 percent from the previous close of Rs 180.55. The share had opened this morning at Rs 181.55.

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