Three entities sell 3.8 pc stake in Prime Focus for Rs 188 crore

New Delhi, Sep 8 (PTI) Three Singapore-based entities on Monday divested a combined 3.8 per cent stake in integrated media and services company Prime Focus for Rs 188 crore through open market transactions.

A total of 1.20 crore equity shares, representing a collective 3.87 per cent stake in Prime Focus, as per the block deal data available on the BSE.

Augusta Investments I Pte Ltd offloaded 62.24 lakh equity shares or 2 per cent stake in Mumbai-based Prime Focus, while Marina IV (Singapore) Pte sold 48.31 lakh shares and Marina Horizon (Singapore) Pte Ltd sold a total of 57.75 lakh shares, amounting to a 1.86 per cent holding in the company.

The transaction was valued at around Rs 187.86 crore, and was executed at an average price of Rs 156.55 apiece.

After the latest transaction, Augusta Investments' holding in Prime Focus through its affiliates has come down to 8.89 per cent from 10.89 per cent. Also, Marina Iv (Singapore) stakeholding in the company has declined to 5.99 per cent from 7.55 per cent.

Meanwhile, these shares were acquired by Craft Emerging Market Fund PCC - Citadel Capital Fund and Craft Emerging Market Fund PCC - Elite Capital Fund at the same price.

Shares of Prime Focus rallied 10 per cent to close at Rs 173.90 per piece on the BSE. PTI HG HG BAL BAL