Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsWorldInox open offer for Fame fails to attract investors

    Inox open offer for Fame fails to attract investors

    Multiplex chain Inox Leisure Ltd said on Friday it had acquired 1,075 shares in rival Fame India in its open offer.

    January 07, 2011 / 19:44 IST

    Multiplex chain Inox Leisure said on Friday it had acquired 1,075 shares in rival Fame India in its open offer.


    Inox had launched an open offer for 8.23 mn shares of Fame, aggregating to 20.25% of the fully diluted share capital of the company, at Rs 51 a share.


    Fame has been embroiled in a takeover battle between Inox and rival Reliance MediaWorks since the beginning of 2010.


    Reliance MediaWorks had also made an open offer for 21.7 mn shares, amounting to a 53.38% stake in Fame, at Rs 83.4 a piece.

    Media reports suggest Reliance MediaWorks has acquired 32% in the open offer that closed on January 4. Company officials declined comment when contacted by Reuters.

    first published: Jan 7, 2011 06:54 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347