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Prime Focus, media services firm has received board approval for raising Rs.330 crore via issuance of share warrants on preferential basis.
In a BSE filing the company stated, “The Board of Prime Focus has approved to issue and allot, on a preferential basis, share warrants worth Rs 330 crore primarily to a promoter entity (Rs 300 crore) and balance to a non promoter investor (Rs 30 crore).”
Further the company stated that, a total of 3,11,32,076 warrants will be allotted at a price of Rs.106 per share and the funds raised will be used largely for debt reduction.
