Reliance MediaWorks holds 35.39% of Fame

MUMBAI: Reliance MediaWorks (RMWL) said Wednesday it has increased its holding in the multiplex chain Fame India to 35.39 per cent following its open offer.

Inox currently holds 50.27 of Fame.

RMWL was locked in a corporate battle over the ownership of Fame with Inox, which had earlier bought the entire promoters’ stake in the multiplex chain.

In its filing to the Bombay Stock Exchange, RMWL said it acquired 6.82 million shares, accounting 19.51 per cent stake in Fame India for Rs 568.77 million with its open offer that closed on 4 January. The company had announced the offer for 21.7 million shares of fame accounting to 62.09 per cent.

However, RMWL managed to acquire much more than what Inox collected (1075 shares) from its open offer.

RMWL had 11.77 per cent stake in Fame before it made a public announcement. Later, it also acquired an additional 4.11 per cent stake through market purchases at stock exchanges.

Fame India has 25 operational multiplexes with 95 screens and a seating capacity of 26,487 in 12 cities.

Shares of RMWL closed Wednesday at Rs 209 on the BSE, up 2.85 per cent from the previous day‘s close. Fame fell 7.2 per cent to Rs 65.10.