INOX Leisure has raised its stake to 68.30% in Fame India after subscribing to a rights issue. INOX had picked up 36.5% stake in Fame by acquiring 2.02 crore shares at Rs 44 per share.
From last two years, INOX has been increasing its stake in Fame. INOX bought 43.00% stake in February 2010, and raised its stake to 50.20% in January 2011. With this latest development, INOX now owns 68.30% of the company.
INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India.
