Inox Leisure has ceased to be a subsidiary company of Gujarat Fluorochemicals. The shareholding of the company in Inox Leisure has been reduced from 65.62 % to 43.42% of the total paid up equity share capital of Inox Leisure.
On July 10, 2013, Inox Leisure has allotted 34,562,206 new equity shares of Rs 10 each of Inox Leisure to the shareholders of Fame India and its subsidiaries in pursuance of the composite scheme of amalgamation between Inox Leisure and Fame India and its subsidiaries. Further, post allotment of these new equity shares, the shareholding of Gujarat Fluorochemicals in Inox Leisure has been reduced.
Gujarat Fluorochemicals, part of the $2 billion INOX group of companies, is engaged in manufacturing of chloro-fluorocarbon refrigerant gases and hydrous hydrofluoric acid. The INOX group has interests in areas of industrial gases, refrigerants, chemicals, carbon credits, cryogenic engineering, renewable energy and entertainment.
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