Prime Focus is currently trading at Rs. 101.55, up by 0.95 points or 0.94% from its previous closing of Rs. 100.60 on the BSE.
The scrip opened at Rs. 102.15 and has touched a high and low of Rs. 103.90 and Rs. 98.25 respectively. So far 4380 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 124.35 on 16-May-2017 and a 52 week low of Rs. 63.45 on 22-Dec-2016.
Last one week high and low of the scrip stood at Rs. 103.90 and Rs. 97.05 respectively. The current market cap of the company is Rs. 2969.36 crore.
The promoters holding in the company stood at 35.00%, while institutions and non-institutions held 9.94% and 55.06% respectively.
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.
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