Reliance MediaWorks, the film and media wing of the Anil Dhirubhai Ambani Group (ADAG), today announced that it, along with two other group firms, has acquired 0.11 per cent stake in multiplex chain Fame India, taking holding to 15.88 per cent.
The company, along with Reliance Capital and Reliance Capital Partners, has purchased 37,359 shares, constituting 0.11 per cent of the share capital of Fame India, on July 19 through open market transaction, the firm said in a statement.
The shares were purchased at an average price of Rs 83.28 a piece with a highest price paid Rs 83.40.
On July 6, these three ADAG firms had acquired 0.05 per cent stake in Fame India, taking their holding to 15.77 per cent.
As multiplex business in India is witnessing an unprecedented growth, Reliance MediaWorks, which operates cinema chain BIG Cinemas, is fighting a takeover battle with another theatre chain Inox Leisure.
The company had made a Rs 180 crore open offer at Rs 83.40 a share to take its holding to 52.72 per cent.
On the other hand, a part of the Inox Group--Inox Leisure--which holds 51 per cent stake in Fame India has made an open offer for 20 per cent at Rs 51 per share.
.gif){kind=spacer}
.gif){kind=small}
.gif){kind=spacer}
.gif){kind=spacer}
