 "Standard Chartered PE to invest $35 mn in Prime Focus")
Private equity arm of Standard Chartered will invest $35 million in Indian visual entertainment services group Prime Focus Ltd at a maximum price of Rs 53 per share, the Indian firm said.
In addition, the company will issue warrants to the promoter Namit Malhotra, representing a right to subscribe to equity shares, for an aggregate amount of Rs 104 crore on preferential basis. These warrants are convertible into equity shares at a maximum price of 53 rupees per share, Prime Focus said.
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The funds will be used to support future growth plans of the company, Prime Focus said.
Earlier this week, Standard Chartered Private Equity invested $32 million in India’s Varun Beverages.
Reuters
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