Temasek-owned Fullerton Fund Management ventures into Bollywood with an increased stake in Indian film distributor.

Fullerton Fund Management, the fund management subsidiary of Singapore's Temasek Holdings, has entered the Indian film industry through an investment in Eros International.

In a filing with the US Securities and Exchange Commission, Fullerton said it now owns an 8.7 per cent stake in the Indian film distributor valued at around $22 million. It did not say how much Fullerton owned in Eros before this transaction. 

While the stake is relatively small, the move sheds light on Temasek's choice of investments in Asia's third largest economy. In 2012, the Singapore sovereign wealth fund invested around $102 million in Indian agricultural products firm Godrej Agrovet. Temasek was not available for comment as of this publication.

Eros began trading on the New York Stock Exchange in 13 November 2013 after being delisted on London's Alternative Investment Market with the goal to achieve higher valuations. In the full year 2012, the company saw net sales rise 35 per cent and EBIT growth hit 40 per cent year-on-year.