The Indian media company signs funding deal with the UK’s Lloyds Banking Group ahead of a planned flotation.
Bollywood producer and distributor Eros has signed a $25m funding deal with the Lloyds Banking Group. It comes ahead of the company’s planned flotation in India later this year.
Eros will use the funding to support its global corporate strategy, which includes exanding its interests in production, acquisition and distribution of entertainment content across cinema, home entertainment, TV and new media.
Kishore Lulla, chief executive of Eros, said the deal will help it to pursue its goal of becoming the leading Indian entertainment and content provider.
The company has more than 1,900 library titles including Sholay, Om Shanti Om (pictured)and Sarkar Raj.