Prime Focus World raises Rs 313 cr from Macquarie Capital

Prime Focus World, the creative services division of Prime Focus, has offloaded a 15 per cent stake to Macquarie Capital to raise Rs 313 crore.

“The deal provides an enterprise valuation of Rs 1,770 crore for the company.

Nishant Fadia, CFO, said, “We would use the funds for expansion plans, including acquisitions, de-leveraging debt in parent company and building our creative services platforms.”

Macquarie Capital is the advisory, capital raising and principal investing arm of the Macquarie Group.

Prime Focus World’s (PFW) creative services platform includes visual effects, animation and 3D conversion.

The parent company, which holds an 81 per cent stake in PFW, has debt of about Rs 350 crore.

PFW intends to deploy the investment in two phases - Rs 224 crore in the first phase and Rs 89 crore in the second phase.

Source: http://cablequest.org/news/new-media/item/2645-prime-focus-world-raises-rs-313-cr-from-macquarie-capital.htmlSource: http://cablequest.org/news/new-media/item/2645-prime-focus-world-raises-rs-313-cr-from-macquarie-capital.html