Prime Focus Ltd to issue debentures

The Shareholders of Prime Focus Ltd had vide Special Resolution passed through Postal Ballot on September 10, 2014 prescribed the limit of Rs. 1000 Crores for borrowing to be made by the Board of Directors of the Company from time to time. In compliance with the limits prescribed by the Shareholders as mentioned above, the Board of Directors at their meeting held on February 20, 2015 have decided to make an offer for the issuance of upto 4,000 unlisted, unrated, redeemable Debentures not convertible into Equity Shares of the Company of face value of Rs. 1,00,000/- each aggregating upto Rs. 27 crores (Rupees Twenty Seven Crores only) with a Green Shoe Option of upto Rs. 13 crores (Rupees Thirteen Crores only), on a private placement basis. The proposed issuance is subject to various terms and conditions, including execution of definitive documents and all requisite approvals and consents.

Shares of PRIME FOCUS LTD. was last trading in BSE at Rs.44.35 as compared to the previous close of Rs. 45.7. The total number of shares traded during the day was 19305 in over 268 trades.

The stock hit an intraday high of Rs. 45.9 and intraday low of 44.05. The net turnover during the day was Rs. 870445.

Source : Equity Bulls

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