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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Prime Focus Limited has informed the exchanges that Itiame Ltd. (a non-promoter entity based in Cyprus) has entered into an agreement dated March 31, 2025 with promoter Mr. Naresh Malhotra to purchase 2,55,71,757 equity shares, which represents 8.52% of the company's total share capital. As an interim step, an encumbrance has been created on these shares in favour of Itiame, meaning the promoter has agreed not to sell, transfer or dispose of these shares to anyone else without Itiame's consent. The actual share purchase is yet to happen and will be executed on the stock exchange floor through the block window facility, subject to pricing guidelines and completion of conditions precedent. Itiame currently holds NIL shares in Prime Focus, so this is a fresh entry by a new acquirer. The disclosure is filed under Regulation 29(1) read with 29(4) of SEBI Takeover Regulations, 2011.
This signals an upcoming change in the promoter shareholding, with an 8.52% stake likely moving from an existing promoter to a new non-promoter acquirer. The encumbrance restricts the promoter's freedom to deal with these shares until the deal closes or terminates. Shareholders should watch for the actual block deal execution, which could create short-term supply pressure on the stock, though the price will be determined by prevailing market rates and SEBI pricing guidelines.