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Prime Focus gets nod to issue convertible warrants worth up to Rs 330 crore

07 Dec 2017 Evaluate

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.

Prime Focus Share Price

301.90 -5.70 (-1.85%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Syngene Internation. 458.00
Indegene 529.65
CMS Info Systems 290.00
JITF Infralogistics 307.90
Sagility 44.18
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