Prime Focus share price rallied over 10% in trade so far after ace investors like Madhusudan Kela and Ramesh Damani bought a stake in the company. Their acquisitions were part of a block deal in which three Singapore-based entities divested a combined 3.8% stake through open market transactions.
The integrated media and services company saw a stake sale of Rs 188 crore, with a total of 1.20 crore equity shares representing a collective 3.87% stake, as per BSE block deal data. The transaction was executed at an average price of Rs 156.55 per share.
The divesting entities included Augusta Investments, which offloaded a 2% stake, along with Marina IV Singapore and Marina Horizon Singapore. Besides the ace investors who bought in, Singularity Large Value Fund also acquired a 2.02% stake in the company.
