Indian IPO

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Sunday, January 22, 2006

Prime Focus IPO likely to hit market in Feb-March

Prime Focus IPO is likely to hit the market at the end of February or beginning March. The money is to be utilised to go global.

The company is looking to build a strong position in the international markets. It is looking at LA, London and Dubai as markets.

It is looking at overseas acquisitions. It is close to acquiring a couple of companies.

It has said that there is a continuous improvement in the debt of the company.

The company recently filed its DRHP with Sebi for the IPO. It plans to enter the capital market with a public issue of Rs 100 crore (Rs 1 billion) through a 100% book building process.

The company is one of India's leading integrated end-to-end post production and visual effects services house.

Some of the leading corporates and personalities already holding equity stake in the company include Reliance Capital, Adlabs Films, Rakesh Jhunjhunwalla and Manmohan Shetty along with Malhotra family.

The book running lead managers to the issue are Centrum Capital and ICICI Securities. Intime Spectrum Registry is the registrar.

There is also a greenshoe option of Rs 15 crore (Rs 150 million), taking aggregate to Rs 115 crore (Rs 1.15 billion).

It has chalked out an expansion plan involving an investment of Rs 117.25 crore (Rs 1.17 billion).


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