Singapore-Based Entities Divest Stakes in Prime Focus

Three Singapore-based entities sold a 3.8% stake in the media services company Prime Focus for Rs 188 crore through open market transactions. Major sellers included Augusta Investments and two Marina entities. These shares were acquired by Craft Emerging Market Funds, boosting Prime Focus shares by 10% on the BSE.

Three Singapore-based entities have sold a combined 3.8% stake in Prime Focus, an integrated media and services company, via open market transactions. The divestment, worth Rs 188 crore, saw a total of 1.20 crore equity shares being offloaded, as per block deal data available on the Bombay Stock Exchange.

Augusta Investments I Pte Ltd led the sell-off by divesting 62.24 lakh shares, accounting for a 2% stake, while Marina IV (Singapore) Pte and Marina Horizon (Singapore) Pte Ltd sold 48.31 lakh shares and 57.75 lakh shares, respectively, reducing their collective holding by 1.86%. The entire transaction was valued at approximately Rs 187.86 crore, executed at an average price of Rs 156.55 per share.

Following this transaction, Augusta Investments' stake in Prime Focus has decreased from 10.89% to 8.89%, and Marina IV's holding has fallen from 7.55% to 5.99%. The shares were purchased by Craft Emerging Market Fund PCC, including the Citadel and Elite Capital Funds, which resulted in Prime Focus stocks rising by 10% to close at Rs 173.90 on the BSE.

(With inputs from agencies.)