6,246,400 Equity Shares of Phantom Digital Effects Limited are subject to a Lock-Up Agreement Ending on 24-OCT-2023.
October 23, 2023
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6,246,400 Equity Shares of Phantom Digital Effects Limited are subject to a Lock-Up Agreement Ending on 24-OCT-2023. These Equity Shares will be under lockup for 372 days starting from 17-OCT-2022 to 24-OCT-2023.
Details:
As per Sub-Regulation (1) of Regulation 236 of the SEBI (ICDR) Regulations, 2018, an aggregate of 20.00% of the post-Issue Capital shall be considered as Promoters Contribution. The Promoters have granted consent to include such number of Equity Shares held by them as may constitute 20.00% of the post-issue Equity Share Capital of the Company as Promoters Contribution and have agreed not to sell or transfer or pledge or otherwise dispose of in any manner, the Promoters Contribution from the date of filing of this Draft Red Herring Prospectus until the completion of the lock-in period for three years.
In addition to above Equity Shares that are locked-in for three years as the minimum Promoters? contribution, the promoters and public shareholding pre-issue Equity Share capital of the Company less no. of shares offered in Offer for Sale, i.e. 62,46,400 Equity Shares shall be locked in for a period of one year from the date of Allotment in the Public Issue.
Phantom Digital Effects Limited is an India-based trusted partner network (TPN) company operating films, commercials, visual effects (VFX) and animation movies, Hollywood movies and television (TV) shows. The Company provides visual effects, animation, concept art, and VFX supervision. The Company operates through the Visual Effects segment. The Company creates computer-generated images which can be seamlessly integrated into live action in feature films, TV shows, Web series, online and offline games, and others. The Companyâs specializations include Completing a Shot with final compositing; Creating three dimensional (3D) elements, photoreal creatures, and environments; Rig/Wire removal, paint cleanup, rotoscopy; 3D matchmove; 3D animation (storyboard, animation); Pre-visualization Game cinematics; Fire / water Fx and other natural phenomena 3D ride animation. It has been associated with some commercial movies, including RRR, Bahubali 1 & 2, Beast, Avengers, Van Helsing, and others.