Inox Leisure zooms on Fame India buy

The stock ended at Rs 85.65 - up 12% from the previous close. The counter witnessed extremely hefty trade volumes of 29.6 lakh shares as against a two-week daily average trade of 1.12 lakh shares on the BSE.
__________________________________________________
(Updated at 1023 hrs)

Inox Leisure has zoomed 12% to Rs 86 after board of directors decided to make Open Offer to public shareholders of Fame India.

The stock opened at Rs 79 and touched high of Rs 92 on the BSE. Around 1.28 million shares have changed the hands on the counter so far as compared to its two-week average of 112,000 shares on the BSE.

 

The company promoted by Gujarat Flurochemicals (GFL), today announced that it has acquired 43.28% stake in the Shroff family promoted Fame India, which owns the chain of Fame Multiplexes.

 

In a block deal executed through the BSE today, the company bought 43.28% stake owned by the promoter family of Fame, for an all-cash consideration of Rs 44 crore. The transaction is entirely funded by the company's promoter company GFL as a shareholder loan.