Prime Focus has received an approval for issuance of up to 3,11,32,076 fully convertible warrants on preferential basis, for an amount aggregating up to Rs 330 crore with a right exercisable by the warrant holder to subscribe for one equity share of the company per warrant. Such right shall be exercisable by the warrant holder on or after April 1, 2018, but not later than 18 months from the date of issue of the warrants.
The proceeds from the preferential issue are proposed to be utilized to reduce the existing debt of the company, to augment the working capital of the company and for other general corporate purposes. The board of directors at their meeting held on December 7, 2017, has approved for the same.
Prime Focus, the world’s largest media services powerhouse, provides end-to-end creative and technology services including visual effects, stereo 3D conversion, animation, postproduction, Digital Intermediate (DI), equipment rental, hybrid cloud-enabled Media ERP technology and cloud media services to Studios, Broadcast, Advertising and Media industries.
| Company Name | CMP |
|---|---|
| Syngene Internation. | 458.00 |
| Indegene | 529.65 |
| CMS Info Systems | 290.00 |
| JITF Infralogistics | 307.90 |
| Sagility | 44.18 |
| View more.. | |
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