Prime Focus gains as board clears Rs 3,000-cr fundraising plan

Prime Focus advanced 1.23% to Rs 308.55 after the company announced that its board approved a proposal to raise funds of up to Rs 3,000 crore through various permissible modes.

The proposed fundraise may comprise equity shares, debt securities, non-convertible securities, share warrants and other equity-linked securities. The company may raise the funds through qualified institutional placement (QIP), American Depository Receipts (ADR), Global Depository Receipts (GDR), preferential issue on a private placement basis, rights issue or any other permissible mode, either individually or in combination and in one or more tranches, as may be decided by the board.

The board also approved an increase in the company's authorised share capital to Rs 100 crore from Rs 85 crore. The authorised capital will comprise 100 crore equity shares of Re 1 each, compared with 85 crore equity shares of Re 1 each currently.

Prime Focus is engaged in the business of post-production activities including digital intermediate, visual effects, 2D to 3D conversion and providing complete solutions in terms of other technical and creative services to the media and entertainment industry.

The company?s standalone net loss widened to Rs 79.46 crore in Q1 FY27 compared with Rs 5.35 crore posted in Q1 FY26. Net sales rose 9.48% YoY to Rs 7.62 crore in Q1 FY27.

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