RMW, Inox offer to Fame shareholders only after Sebi approval

MUMBAI: In the absence of Sebi approvals, the bidding process of the acquisition of Fame India that was to have started on 1 April has been postponed.

In the process, Fame India shareholders who want to participate in the bidding war between Inox Leisure and Reliance Media World (RMW) have faced a roadblock.

Meanwhile, ICCI Securities Limited, in a BSE announcement, has clarified that the draft Letter of Offer, that Reliance Capital Partners and Reliance Capital Limited had, through insertions in a couple of dailies, offered to the public shareholders of Fame India Limited (FIL) to acquire 2,17,00,000 fully paid-up equity shares of FIL at a price of Rs 83.40 per fully paid-up equity share of face value of Rs 10 each, will now not open on 1 April, the ‘Date of opening of the Offer‘.

The revised schedule of activities in respect of the offer will be announced only after receiving Sebi‘s approval.