Prime Focus to raise Rs348 cr

Prime Focus to raise Rs348 cr
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First Published: Fri, Aug 31 2007. 12 21 PM IST
Updated: Fri, Aug 31 2007. 12 21 PM IST
PTI
Mumbai: Prime Focus, a provider of post-production and visual effects services, said on 31 August it will raise over Rs348 crore through issue of securities in domestic as well as international markets.
The firm plans to mop up Rs225.56 crore ($55 million) by issuing Foreign Currency Convertible Bonds (FCCB), Global Depository Receipts (GDRs), preferential shares or any other convertible instruments, it said in a filing to the Bombay Stock Exchange.
Further, it would raise funds to the tune of Rs123.05 crore ($30 million) through External Commercial Borrowing (ECB) or any other debt structure.
Prime Focus would convene the Annual General Meeting on September 28 to seek shareholders’ approval for the fund-raising proposals.
The company’s shares were trading at Rs851.15, up 0.73%, on the BSE.
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First Published: Fri, Aug 31 2007. 12 21 PM IST