MUMBAI: Multiplex chain Fame India plans to raise up to Rs 900 million (Rs 90 crore) via rights issue.

The company said that its board had approved the plan.

“The board of directors of the company at its meeting held on 19 April has accorded to issue equity shares on rights basis to the existing equity shareholders of the company up to Rs 90 crore,” the company said.

The board constituted a Right Issue Committee of directors and delegated all the powers to the committee to decide about the ratio of the issue, the issue price, appointment of merchant banker and all other matters required or necessary in connection with the issue.