Crest Animation Gets $40 Million Funding From DE Shaw Group

It seems today is a day of deals. Leading animation company Crest Animation Studios will get a total capital infusion of $40 million from DE Shaw Group, a specialised technology investment firm. Crest Animation will issue 3.385 million shares at Rs 120 ($2.5) to DE Shaw to raise $8.7 million. Crest will also allot securities worth a 26 percent stake in its US subsidiary RichCrest Holdings to raise another $15.75 million. Further, it would avail up to $15.75 million in guarantee funding towards film financing. This makes it a total of $40.2 million in funding. The Indian company would use the funds for expansion and upgradation of its animation facilities. [Via EquityBulls]

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