Prime Focus soars 11.5%, Standard Chartered PE ups stake

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Shares of Prime Focus rallied 11.5 percent intraday Thursday after Standard Chartered PE increased its stake in the media services powerhouse.

Standard Chartered Private Equity (Mauritus) has purchased 9.75 percent stake in the company through bulk deal today, reports CNBC-TV18 quoting unnamed sources.

The private equity player has raised its stake to 21.98 percent from 12.23 percent stake in the company.

Reliance Mediaworks is biggest public shareholder in the company, holding 44.86 percent stake as of June 2015. Promoters (Naresh Malhotra, Namit Malhotra and Mansoon Studio) have 35 percent shareholding.

At 15:02 hours IST, the scrip of Prime Focus was quoting at Rs 53.45, up Rs 2.60, or 5.11 percent on the Bombay Stock Exchange.