Multiplex operator INOX Leisure on Wednesday said it had acquired 43.28 per cent stake in Fame India for Rs.44 crore and would make open offer to acquire additional 20 per cent stake in the company.
“In a block deal executed through the Bombay Stock Exchange on Wednesday, INOX bought 43.28 per cent stake or 1.51 crore shares owned by the promoter family of Fame, for an all cash deal of Rs.44 crore. The transaction is entirely funded by INOX’s promoter company, Gujarat Fluorochemicals, as a shareholder loan,” INOX Leisure said in a filing to the Bombay Stock Exchange.
The acquisition would create one of the India’s largest multiplex networks with a combined strength of 55 multiplexes, 204 screens and a total seating capacity of 57,891 seats, the filing said.
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