Prime Focus rose 2.57% to Rs 45.95 at 11:45 IST on BSE after its board has decided to make an offer for the issuance of upto 4,000 unlisted, unrated, redeemable debentures not convertible into equity shares on a private placement basis.
The company made announcement on Saturday, 21 February 2015.
Meanwhile, the S&P BSE Sensex was up 68.97 points or 0.24% at 29,300.38.
On BSE, so far 8,960 shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past two weeks.
The stock hit a high of Rs 46.70 and a low of Rs 45 so far during the day. The stock had hit a 52-week high of Rs 59.40 on 13 January 2015. The stock had hit a 52-week low of Rs 25.40 on 13 May 2014.
The stock had underperformed the market over the past one month till 20 February 2015, falling 14.67% compared with 1.55% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.29% as against Sensex's 4.15% rise.
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The small-cap stock has an equity capital of Rs 37.10 crore. Face value per share is Re 1.
Prime Focus said that its board of directors at a meeting held on Friday, 20 February 2015, 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 lakh each aggregating upto Rs 27 crore with a green shoe option of upto Rs 13 crore 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, Prime Focus said in a statement.
Prime Focus' net profit rose 18.33% to Rs 1.42 crore on 42.85% rise in total income to Rs 37.10 crore in Q2 December 2014 over Q1 September 2014.
Prime Focus after beginning as a commercial post-production facility providing top-tier technology solutions to clients, quickly outgrew the family garage to become a multi-location, industry-leading, end-to-end digital services provider for Bollywood.
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