Inox Cinema buys 43 per cent stake in Fame India

Inox Cinemas on Wednesday announced that it will acquire the promoters' 43 per cent stake in Fame India for Rs 66.5 crore, making it one of the largest multiplex networks in the country.

Subsequently, Inox will also make an open offer for an additional 20 per cent stake in Fame, as required by current takeover rules.

“In a block deal executed on BSE, Inox bought the promoters stake. The transaction is funded by Inox's promoter company, GFL as a shareholder loan,” said Deepak Asher, director, Inox Group of Companies.