Prime Focus Limited has informed the Exchange regarding Board meeting held on July 03, 2025.
PFOCUS · price
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Prime Focus Limited's board, at its July 3, 2025 meeting, approved issuing up to 46,26,69,444 equity shares at INR 120 per share (face value INR 1) to 16 investors, for a total consideration of about INR 5,552 crore. Of this, 43.01 crore shares (worth INR 5,161.5 crore) will be issued as a share swap to acquire more shares in its step-down subsidiary DNEG S.a.r.l. (Luxembourg), a VFX and animation firm, while 3.25 crore shares (INR 390.5 crore) will be issued for cash. After the deal, promoter group entity A2R Holdings will hold 53.46% and Novator Capital 14.40% of Prime Focus, and Prime Focus's direct and indirect stake in DNEG will rise to 88.28%. The board also approved altering articles of association to grant special rights (director nomination, protective voting) to one allottee, a material related party transaction between PF World Limited and A2R Holdings, and an EGM on July 26, 2025 to seek shareholder approval.
This is a major share issuance that will dilute existing shareholders, but the bulk of it is a share swap that consolidates ownership in the profitable VFX subsidiary DNEG. The INR 390 crore cash portion strengthens the balance sheet. Watch the EGM outcome on July 26, 2025 and the INR 120 issue price as key near-term markers.