Fame India, Inox Leisure gains ahead of board meet for merger plans

Fame India and Inox Leisure are trading higher by more than 4% each ahead of their board meetings today to consider amalgamation of Inox leisure and Fame India.

“The board of directors of the company will meet on June 15, 2012, to consider amalgamation of Fame India Limited, a subsidiary of the company and its existing wholly owned subsidiaries namely, Fame Motion Pictures Limited, Big Picture Hospitality Services Private Limited and Headstrong Films Private Limited with the company,” Inox Leisure said in a filing.

Fame India stock has frozen upper circuit of 5% at Rs 47.40 with a combined around 3,500 shares have changed hands on the counter so far. There are pending buy orders for 6,332 shares on the NSE and BSE.

Inox Leisure is trading higher by 5% at Rs 52.40 after opened at Rs 52.20 on the NSE. Total 53,073 shares have changed hands on the counter on both the exchanges.