Eros has a good showing

Eros International is up and about today morning. The stock which closed yesterday at Rs.132.20, opened today morning at Rs.137 and hit an intra day high at Rs.139.40 and is currently over 4% up.

The stock is up on news reports that its parent company, Eros International Plc has filed for a US IPO of up to USD 250 million. It plans to delist from London's junior AIM market and this switch is being made to US as the capital markets there provide more efficient access to additional equity capital on more favourable terms, more relevant peer group, broader analyst coverage and increased liquidity.  

The company has named Deutsche Bank Securities, BofA Merrill Lynch, Citigroup and UBS Securities as underwriters to the offering.  It will list the stock on the New York Stock Exchange under the symbol "EROS”.