Prime Focus Limited has informed the Exchange regarding Outcome of Board Meeting held on July 03, 2025.
PFOCUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Prime Focus Limited's board approved issuing up to 46,26,69,444 equity shares at INR 120 each (face value INR 1, premium INR 119), with a total consideration value of about INR 5,552 crore. Of these, roughly 43.01 crore shares (worth INR 5,161.5 crore) will be issued via share swap to acquire an additional 31.05% stake in DNEG S.a.r.l, Luxembourg (a step-down VFX and animation subsidiary) from its existing shareholders, taking Prime Focus's total direct and indirect holding in DNEG to 88.28%. The remaining about 3.25 crore shares (worth INR 390.5 crore) will be issued for cash to raise fresh funds. The allotment is proposed to 16 investors, including promoter-group entity A2R Holdings (whose stake will rise from 48.75% to 53.46%), Novator Capital (14.40%), Bresino Projects, several HNIs and entities, plus minor celebrity name Ranbir Kapoor (0.16%). The board also approved altering the Articles of Association to grant Novator Capital limited special rights (right to nominate one non-executive director and affirmative vote on certain matters as long as it holds at least 5%). An EGM has been called for July 26, 2025 to seek shareholder approval for these matters.
This is a large preferential issue that will materially expand the share count and dilute existing shareholders, but it consolidates ownership of the core DNEG VFX/animation business and brings in a significant financial investor (Novator Capital at 14.4%) with some board influence. Existing minority shareholders should watch the July 26 EGM closely — the promoter group's stake crossing 53% reinforces controlling shareholder influence, while the issue price of INR 120 will serve as a key reference for the stock in the near term.