Prime Focus Limited Announces Internal Restructuring of Subsidiaries
Prime Focus Limited announced on April 1, 2026, that certain subsidiaries within the group are undergoing internal restructuring to streamline business operations.The restructuring involves two key steps:
1. Transfer of Prime Focus Technologies Inc. (PFT US): The entire 100% equity shareholding of PFT US, currently held by Brahma AI Services India Limited (formerly known as Prime Focus Technologies Limited) ('Brahma India'), will be transferred to DNEG S.a.r.l. ('DNEG'). This transfer will also include the conversion of optionally convertible redeemable preference shares issued by PFT US to Brahma India into equity shares, and the conversion of a loan given by Brahma India to PFT US into equity shares. This conversion does not involve fresh capital infusion.
2. Transfer of Brahma AI Services India Limited (Brahma India): DNEG S.a.r.l. will transfer its entire 100% equity shareholding, including the 92.23% currently held and the remaining 7.77% held by other shareholders, of Brahma AI Services India Limited to Brahma AI Holdings Limited.
Following these transfers, both PFT US and Brahma India will remain part of the group and continue as step-down subsidiaries of Prime Focus Limited.
The Audit Committee has approved these transactions.
Financial Details (as of March 31, 2025):
| Particulars | PFT US | Brahma India |
|---|---|---|
| Consolidated Turnover (FY 2024-25) | INR 90.49 Crores (USD 1,05,89,160) | INR 380.23 Crores |
| Consolidated Net Worth (FY 2024-25) | INR 0.63 Crores (USD 73,633) | INR 178.11 Crores |
Sale/Disposal Details:
| Particulars | Details |
|---|---|
| Date of Agreement | April 01, 2026 |
| Consideration | Around USD 21 Million for PFT US and USD 90.09 Million for Brahma India |
| Buyer (PFT US) | DNEG S.a.r.l., a step-down subsidiary of Prime Focus Limited |
| Buyer (Brahma India) | Brahma AI Holdings Limited, a step-down subsidiary of Prime Focus Limited |
| Related Party Transaction | Yes, the transactions are related party transactions and are being conducted at arm’s length. |
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