Eros Worldwide, a promoter entity of Eros International Media, will sell 2.8 per cent of its holding in the the film distribution on December 20.
"Eros Worldwide has submitted to notice of offer for sale of an aggregate of 25,73,710 equity shares of Rs 10 each of Eros International Media representing 2.8 per cent of the equity share capital by promoter through a sale on the separate window provided by the BSE and NSE," a filing on the BSE said.
At current market prices, the shares are worth Rs 53.88 crore.
The proposed sale will begin on the separate window of the stock exchanges on December 20, 2012 at 0915 hrs and close on the same day at 1530 hrs, it added. The seller shall declare the floor price for the sale tomorrow (December 19) after trading hours but not late than 1800 hrs.
Shares of the company today closed at Rs 209.35 apiece, down 1.18 per cent from the previous close on the BSE. Eros Worldwide held 54.15 per cent stake in the company, as on September 30, 2012. The entire promoter group of Eros International held 77.8 per cent of the company.
Other major shareholders include Eros Digital (23.64 per cent), Indus Capital Advisors (UK) (3.99 per cent) and IDFC Sterling Equity Fund (1.41 per cent).