Relaince Mediaworks rises its share holding in Fame India Ltd

Anil Ambani group firm Reliance MediaWorks Ltd, with two others, has raised their stake in multiplex chain Fame India Ltd to 14.51 percent, as it battles rival Inox in a takeover battle, according to a stock exchange filing.

Reliance MediaWorks, along with group firms Reliance Capital and Reliance Capital Partners, acquired an additional 2.37 percent equity in Fame through open market purchases between Feb 22 and May 20, according to a filing made to the NSE.


Fame India has been the subject of a takeover battle between Reliance MediaWorks and Inox Leisure Ltd since early this year when Inox acquired 50.48 percent in Fame and followed it up with an open offer for an additional 20 percent.

Reliance MediaWorks has delayed its counter bid to buy 62.36 percent in Fame pending regulatory approval.