Prime Focus subsidiaries to get USD 100 million PE investment from Multiples
PFOCUS · price
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Board approved Multiples PE investing USD 100 million in PFL's material subsidiaries Brahma AI Holdings (BHL) and Brahma AI Services India via compulsorily convertible preference shares. USD 54.36 million into BHL and USD 45.64 million into Brahma India. Broader round targets USD 150 million with additional USD 150 million demand indicated from global investors. PFL will cease control of these units, retaining 65.67% economic stake but voting rights drop from 89.27% to 24.99%. Subject to shareholder approval.
PFL loses control of key AI subsidiaries, retags them as associates; economic stake stays at 65.67% but voting falls sharply. Needs shareholder vote.