Prime Focus raises $55.5bn rupees for DNEG acquisition

Prime Focus Limited will issue up to 462.7 million equity shares at 120 rupees per share, totaling 55.52 billion rupees.

The preferential issue combines cash and share swap for acquiring 31.05% of DNEG S.a.r.l., increasing Prime Focus's indirect shareholding in the visual effects subsidiary to 87.25%.

Cash proceeds of up to 39.05 billion rupees will fund investment in subsidiary PF World Limited, business expansion, and general corporate purposes.