Phantom Digital Effects Limited Approves Capital Restructuring and CCD Issuance
Phantom Digital Effects Limited announced key corporate actions following a Board of Directors meeting held on April 17, 2026. The board approved plans for a significant increase in the company's authorized share capital, the preferential issuance of Compulsorily Convertible Debentures (CCDs), and the convening of an Extraordinary General Meeting (EGM) to seek shareholder approval for these matters.Capital Structure Enhancement
During the meeting, the board approved altering the Memorandum of Association (MOA) and increasing the company’s authorized share capital. The authorized capital is being increased from ₹25,00,00,000/- (Rupees Twenty Five Crore only), which corresponds to 2,50,00,000 Equity Shares of ₹10/- each, to ₹30,00,00,000/- (Rupees Thirty Crore only), representing 3,00,00,000 Equity Shares of ₹10/- each.Details of Compulsorily Convertible Debentures (CCDs)
The company also approved raising funds through the preferential issuance of Compulsorily Convertible Debentures (CCDs). The total issue size is up to ₹ 115,70,36,400 /- (Rupees one hundred fifteen crore, seventy lakhs & thirty six thousand four hundred only), comprising up to 54,27,000 CCDs.The terms of the proposed CCD issuance include:
| Feature | Details |
|---|---|
| Type of Security | Compulsorily Convertible Debentures (CCDs) |
| Face Value/Conversion | Convertible into fully paid-up Equity Shares of ₹10/- each |
| Issue Price per CCD | ₹213.20/- (Comprising ₹10 face value and ₹203.20 premium) |
| Proposed Allottee | Zee Entertainment Enterprises Limited (Public Non-Promoter) |
| Coupon Rate | 0.01% per annum / Nil (payable Quarterly) |
| Conversion Ratio | Each CCD converts into one (1) Equity Share of face value ₹10/- |
| Tenure | 18 months from the date of allotment |
The net proceeds from the issuance of the CCDs are earmarked for two primary purposes: funding business expansion and capital expenditure requirements, and meeting the working capital needs of the company, including funding to its wholly owned subsidiary, Milk Visual Effects Limited, United Kingdom.
Governance and Next Steps
The board also approved convening an Extraordinary General Meeting (EGM) of the company’s members to seek shareholder approval for the capital increases and the CCD issuance. Furthermore, the board appointed M/s. SKD & Associates, Practising Company Secretaries, as the Scrutinizer for conducting the Remote E-Voting and E-Voting process during the EGM.The proposed preferential issue of CCDs is subject to obtaining a Special Resolution from the company's shareholders at the EGM, as well as the in-principle approval from the National Stock Exchange of India Limited (NSE).
PHANTOMFX Stock Price Movement
Phantom Digital Effects Limited saw its shares shed 2.46% today, settling at ₹224.85 in after-hours trading. The equity experienced a trading range of ₹224.3 to ₹243, supported by a total volume of 38,400 shares.Source:
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