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Inox has raised its stake in Fame India after subscribing to a rights issue. In a filing to the exchanges, Fame India informed that Inox Leisure had picked up 36.5 per cent stake in the company by acquiring 2.02 crore shares at Rs. 44 per share.
Inox Leisure has been increasing its stake in Fame India in the last two years. In February 2010, Inox bought 43 per cent stake and in January 2011 raised it to 50.2 per cent. With this acquisition, Inox now owns 68.3 per cent of the company.
On Wednesday, the Inox scrip on BSE was up 2.5 per cent to Rs. 48. Fame India was marginally up at Rs. 46.50.
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