The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Itiame Ltd
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Itiame Ltd., an external party (not part of promoter group), has entered into an Agreement to Sell dated March 31, 2025 with Mr. Naresh Malhotra, a Promoter of Prime Focus Ltd, to purchase 2,55,71,757 equity shares (8.52% of total share capital) through the block deal window on the stock exchange. The actual transfer has not yet happened — only an encumbrance has been created, meaning the promoter cannot sell these shares to anyone else during the interim period without Itiame's consent. The acquisition is subject to certain conditions precedent and will happen at prices determined by applicable pricing guidelines. Itiame Ltd. currently holds zero shares in Prime Focus, so this is a fresh acquisition by a non-promoter entity.
This represents a binding agreement for an 8.52% stake to move from the promoter to an external acquirer. Once the block deal executes, promoter shareholding in Prime Focus Ltd will reduce by this amount. Investors should watch for the actual block deal execution and pricing, which may create short-term supply-demand pressure on the stock.