It has not been a good week for Eros International, a Bollywood movie producer.
The company had to jettison a planned dollar bond on Wednesday, despite offering investors a juicy pick-up over what it initially hoped for. On the same day, it was hit with accusations of fraud by a little-known short-seller, who has not yet substantiated those claims. Its New York-listed stock plummeted 12.67% in a single day, capping a fall of more than 26% since the start of the year.
Eros’ planned dollar bond was ambitious. It was set to be the first such deal from any Asian film producer. The company’s B- rating from...
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