Reliance Capital, which is battling Inox Leisure for acquiring a controlling stake in Fame India, today said the Anil Dhirubhai Ambani Group (ADAG) firms' open offer to acquire a controlling stake in the multiplex operator will begin from April 1.
The three Anil Ambani group firms--Reliance MediaWorks, Reliance Capital Partners and Reliance Capital--had earlier announced an open offer for a 52.48 per cent stake in Fame at Rs 83 per share, countering a bid by rival Inox Leisure.
In a filing to the Bombay Stock Exchange (BSE) today, Reliance Capital said, the said Rs 180 crore public offer would begin on April 1 and close on April 20-- incidentally, the same day when Inox offer also begins.
Reliance Capital currently holds 12.14 per cent stake in Fame.
The ADAG firm's offer is about 60 per cent higher than the Rs 51 offered by Inox to buy a 20 per cent stake through an open offer. Currently Inox holds 50 per cent in Fame.
Shares of Reliance Capital closed at Rs 735.65, up 0.25 per cent on the BSE.
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