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BSE seeks clarification from Eros on movie channel launch plan

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MUMBAI: The Bombay Stock Exchange (BSE) has sought clarification from film production and distribution firm Eros International Media with regards to its plans of launching a movie channel and tweaking business verticals.

The notice to Eros reads, “The Exchange has sought clarification from Eros International Media Ltd with respect to news article appearing in Mint on 6 April, 2015 titled ‘Eros plans new movie channel, acquisition of technology startups.’”

The publication has reported that the film production company is looking at generating more content and acquiring technology startups.

Eros International group CEO and managing director Jyoti Deshpande, in an interview to the publication, has said that the company is entering south India and newer areas of content creation and distribution. With Eros looking at producing 125 movies as compared to the approximately 70 it currently produces, Deshpande, is expecting a steady increase in margins for the current financial year.  

The Exchange has sought a reply from Eros with regards to this news item and the reply is still awaited.

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