Wires

Standard Chartered PE to invest $35 mln in India's Prime Focus

Share

MUMBAI, Oct 11 (Reuters) - Private equity arm of StandardChartered Plc will invest $35 million in Indian visualentertainment services group Prime Focus Ltd at amaximum price of 53 rupees per share, the Indian firm said.

In addition, the company will issue warrants to the promoterNamit Malhotra, representing a right to subscribe to equityshares, for an aggregate amount of 1.04 billion rupees ($19.57million) on preferential basis. These warrants are convertibleinto equity shares at a maximum price of 53 rupees per share,Prime Focus said.

The funds will be used to support future growth plans of thecompany, Prime Focus said.

Earlier this week, Standard Chartered Private Equityinvested $32 million in India's Varun Beverages.($1 = 53.1350 Indian rupees)

(Reporting by Indulal PM; Editing by Anand Basu)

((indulal.p@thomsonreuters.com)(+91-22-6180-7183)(Reuters

Messaging: indulal.p.thomsonreuters.com@reuters.net))

Keywords: STANDARDCHARTERED PRIMEFOCUS/