The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Novator Capital Ltd
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Novator Capital Limited, a non-promoter entity based in Cyprus, disclosed acquisition of 1,43,18,750 equity shares (1.85% of post-issue capital) of Prime Focus Limited via preferential allotment for cash consideration on September 23, 2025. While Novator's absolute shareholding rose from 9.69 crore to 11.13 crore shares, its percentage holding actually diluted from 16.50% to 14.35%. This is because Prime Focus's total share capital expanded sharply from about 58.76 crore to 77.55 crore shares, indicating a sizeable preferential issue where other allottees received a larger proportion of new shares. The acquisition is funded through fresh capital infusion rather than open market buying.
This signals a major capital raise by Prime Focus through preferential allotment, with Novator Capital continuing as a significant non-promoter shareholder. The dilution of Novator's stake shows that other investors took up a larger share of the new issue, which existing shareholders should view as fresh equity dilution on their holdings.