Movies

Reliance ADAG increases stake in Fame to 11%

MUMBAI: Reliance Capital Partners, part of the Reliance ADAG company, is continuing with its pursuit to increase its stake in Fame India through open market purchases. The company had started upping its holding in Fame after Inox Leisure bought a majority stake in the multiplex company.


Reliance has taken its total holding in Fame to 11 per cent, even while it has complained to Sebi against the Inox-Fame deal as it had made a higher price buyout offer. On 9 February, Reliance had disclosed that its total holding in Fame was 8.13 per cent.


Inox, which already holds 50.5 per cent of Fame, has announced the open offer for 20 per cent at Rs 51 per share.


With both Inox and Reliance in tug-of-war to get more of Fame, the scrip is on the upward path.

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