 "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.
[caption id=“attachment_487382” align=“alignleft” width=“380”]  Reuters[/caption]
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.
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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