Religare Securities acquires 5.12% stake in Fame; Inox awaits SEBI nod‎

MUMBAI: Religare Securities Ltd (RSL) has increased its stake in multiplex operator Fame India to 5.82 per cent.

Multiplex operator Fame India has been in the news lately for the major clash for takeover between Anil Dhirubhai Ambani’s Reliance Mediaworks and Inox Leisure.

While Inox holds 50.48 per cent in Fame, Reliance MediaWorks has delayed an open offer to acquire 21.7 million shares in Fame.

Additionally,Inox Leisure will announce the revised schedule for the acquisition of an additional 20 per cent stake in Fame India after getting SEBI approval. "The date of opening of the offer and other relevant dates will undergo a change and the revised schedule of activities will be announced separately after receiving SEBI’s approval to the letter of offer," Inox said in a filing to the BSE. Inox made an open offer to acquire up to 82.31 lakh equity shares, representing 20 per cent stake in Fame India, at a price of Rs 51 per share.

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