Rakesh Jhunjhunwala buys 25.50 lakh Prime Focus shares

MUMBAI: Ace investor Rakesh Jhunjhunwala today increased his stake in visual entertainment services firm Prime Focus by acquiring additional shares worth Rs 11 crore through open market transactions.

According to bulk data available with the stock exchanges, Jhunjhunwala purchased 25.50 lakh shares (amounting to 1.71 per cent stake) of Prime Focus held by Royal Bank of Scotland ( RBS) for Rs 42.05 apiece, valuing the deal to Rs 10.72 crore.

As of last month, Jhunjhunwala and his wife Rekha Jhunjhunwala held 5.93 per cent stake in the company, while RBS' holding in Prime Focus stood at 1.99 per cent.

Shares of the company rose by 2.13 per cent to close at Rs 43.10 apiece on the BSE.