Mumbai: Global banking major Standard Chartered's private equity arm Thursday said it will invest USD 35 million (around Rs 180 crore) in visual entertainment services company Prime Focus on a preferential basis, at a maximum price of Rs 53 per share.
"Standard Chartered Private Equity (Mauritius) III will subscribe to our equity shares on a preferential basis for an aggregate amount of USD 35 million at a maximum price of Rs 53 per equity share," a release from Prime Focus said.
It also said the company will issue warrants to promoter Namit Malhotra, representing a right to subscribe to equity shares, for an aggregate amount of Rs 104 crore on a preferential basis.
Prime Focus will convene an extraordinary shareholders' meeting on November 3 to seek their approval for these transactions, the company added.
"An investment by StanC PE marks an important milestone for us and will go a long way in helping us sustain our future growth plans," Prime Focus said.
PTI
