Prime Focus has released share pledge on approximately 1.6 crore shares. With this, the total pledge on Prime Focus’s shares has now been reduced to 57% of promoter holding as against approximately 77%. By the end of September, Company expects to release further 3.4 crore shares which will bring the pledge down to 13%, which is basically the additional collateral cover given by the Company to the banks for its working capital requirements.
At the end of Q2, the Company expects the debt in Prime Focus to be brought down by an aggregate of Rs 125 crore.
Prime Focus, a global leader in media and entertainment industry services employs over 4,500 professionals in 19 facilities across 3 continents and 4 time zones.
