Reliance ADAG companies up stake in Fame India to 15.28%

MUMBAI: Reliance MediaWorks, along with two other Anil Dhirubhai Ambani Group firms, has acquired a further 0.25 per cent stake in Fame India, hiking their combined holding in the multiplex chain to 15.28 per cent.

Three entities of ADAG – Reliance MediaWorks, Reliance Capital and Reliance Capital Partners – acquired 85,962 shares, or 0.25 per cent stake, of Fame through open market transactions.

The acquisition of shares were made on 4 June. ADAG firms purchased the shares at an average price of Rs 82.52 a piece and the highest price paid was Rs 83.40.

Reliance MediaWorks, which is in competition with Inox for acquiring a stake in Fame, has already made an open offer of Rs 1.80 billion (Rs 180 crore) to buy 52.72 per cent stake in Fame at Rs 83.40 a share. Inox holds 51 per cent stake in Fame and has made an open offer for an additional 20 per cent at Rs 51 per share.

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