Reliance ADAG increases stake in Fame India to 15.77%

MUMBAI: Anil Ambani group company Reliance MediaWorks, along with two other group firms, has further purchased 0.05 per cent stake in Fame India, increasing their combined stake in the multiplex chain to 15.77 per cent.

Three ADAG companies – Reliance MediaWorks, Reliance Capital and Reliance Capital Partners – have acquired 16,196 shares, or 0.05 per cent stake, of Fame India through open market transaction.

ADAG firms purchased the shares at an average price of Rs 83.11 a piece and the highest price paid was Rs 83.35, the disclosure said.

On 30 June, 2010, ADAG companies had acquired 0.03 per cent stake to increase its holding in Fame India to 15.72 per cent.

Reliance MediaWorks and Inox Leisure both have an interest in acquiring a majority stake in Fame India. Inox holds 51 per cent stake in Fame India and has made an open offer for an additional 20 per cent at Rs 51 per share.