Prime Focus board approves raising up to ₹3,000 cr
Business
Prime Focus just got the green light from its board to raise up to ₹3,000 crore.
The company's looking at a bunch of options (selling shares, issuing debt, or even offering equity-linked instruments) to bring in the funds.
They might go for Qualified Institutional Placement (QIP), ADRs, GDRs, private placements, or rights issues, basically whatever works best.
Prime Focus seeks shareholder, regulator approval
This fundraising plan still needs approval from shareholders and regulators.
To make it possible, Prime Focus is also bumping up its authorized share capital from ₹85 crore to ₹100 crore.
After these announcements, its stock price jumped 4.37% and closed at ₹304.75 on Friday, a sign investors are paying attention.