Mumbai:Inox Leisure Ltd, an operator of movie theaters, said it will offer to buy an additional stake of as much as 20% in Fame India Ltd at Rs51 apiece.
The offer will be open from 1 April till 20 April, the company said in a statement to the Bombay Stock Exchange. Inox last week bought a total 50.51% stake in Fame in two separate transactions.
Inox shares rose 6.9% last week to Rs79.1. Fame climbed 34% to Rs53.55, giving the company a market value of Rs1,900 crore.