StanChart PE to invest $35 million in Prime Focus
MDT/PTI 12 October 2012

StanChart PE will invest around Rs180 crore in visual entertainment services company Prime Focus on a preferential basis at Rs53 per share

 
Mumbai: Banking major Standard Chartered's private equity (PE) arm said it will invest $35 million (around Rs180 crore) in visual entertainment services company Prime Focus on a preferential basis, at a maximum price of Rs53 per share, reports PTI.
 
"Standard Chartered Private Equity (Mauritius) III will subscribe to our equity shares on a preferential basis for an aggregate amount of $35 million at a maximum price of Rs53 per equity share," a release from Prime Focus said.
 
It also said the company will issue warrants to promoter Namit Malhotra, representing a right to subscribe to equity shares, for an aggregate amount of Rs104 crore on a preferential basis.
 
Prime Focus will convene an extraordinary shareholders' meeting on 3rd November to seek their approval for these transactions, the company added.
 
"An investment by StanChart PE marks an important milestone for us and will go a long way in helping us sustain our future growth plans," Prime Focus said.
 
Comments
Array
Free Helpline
Legal Credit
Feedback