Monsoon Studio Pvt Ltd, a promoter group, will be issued ~2.8cr convertible warrants at a price of Rs106 each aggregating up to Rs300cr. The rest ~2.8 mn shares will be issued to non-promoter Anshul Doshi at the same price.
The proceeds of the issue are expected to be utilized for reducing the existing debt of the company. Its consolidated net debt at the Q2FY18 end stood at Rs1,369cr. Also, the funds will support working capital needs of the company.
Prime Focus is one of the world’s largest independent integrated media services companies and amongst Top-4 providers of VFX. It employs over 9,000 professionals in 15 cities across 4 continents.
Prime Focus is currently trading at Rs101.4, up by Rs0.8 or 0.8% from its previous closing of Rs100.6 on the BSE. The scrip opened at Rs102.1 and has touched a high and low of Rs103.9 and Rs98.2 respectively. The current market cap of the company is Rs3006.7cr.
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