Home Retail Inox awaits SEBI’s approval

    Inox awaits SEBI’s approval


    Ltd is to announce the revised schedule for the acquisition of an additional 20 per cent stake in Fame India after getting the capital market regulator’s approval.

    In a filing to , Inox announced the date of opening of the offer and other relevant dates will undergo a change and the revised schedule of activities will be announced separately after receiving ’s approval to the letter of offer.

    Inox, which is facing a takeover battle from the Anil Group, has made an open offer to acquire up to 82.31 lakh equity shares, representing 20 per cent stake in Fame India, at a price of Rs.51 per share.

    On February 5, INOX Leisure Ltd purchased 25,07,537 equity shares of Rs.10 each of Fame India Ltd representing 7.21 per cent of the total paid-up capital of Fame India Ltd at a consideration of Rs.50.75 per share, by way of a block deal.

    — IndiaRetailing Bureau