INOX Leisure

INOX pioneers initiative to make multiplexes become ATMs

INOX pioneers initiative to make multiplexes become ATMs

Mumbai (Maharashtra) [India], Nov. 26 : INOX Leisure, India's premier multiplex chain, has launched a new initiative to ease the process of cash withdrawal for the common man while supporting the demonetisation drive of the government. The company has partnered with the State Bank of India (SBI) to facilitate this transaction at the nearest INOX multiplex using a debit card.

Citizens can simply swipe their debit cards, enter their PIN number and take up to Rs. 2000 in cash per card per day. All applicable guidelines of the Reserve Bank of India with regard to cash withdrawals shall be followed. The facility will be available across 17 properties starting November 25 and will be made available at the remaining 89 properties over the course of the weekend.

RMW denies stake buying in Inox but its shares rise

RMW denies stake buying in Inox but its shares riseOn Friday the shares of Inox Leisure went up by as much as 20 per cent after there were news reports that said that Reliance MediaWorks (RMW) is going to buy 67 per cent stake in it.

But, later during the day Anil Ambani denied such reports and said, "We... deny any discussions by Reliance MediaWorks (RMW) or any offer by us to acquire any controlling stake in Inox Leisure Ltd." through a spokesperson.

Market Performer rating to Inox leisure

Market Performer rating to Inox leisureInox Leisure has been in the news for the past month or so for its fight to get higher share in Fame India.

ADAG's group company Reliance Media Works trying to acquire the company and then Fame India entering into the picture with another offer. The entertainment branch of ADAG which is popularly known as Reliance Media Works has raised certain questions on the deal.

Inox counter claims Reliance allegations on Fame deal

InoxInox Leisure has refuted allegations made by the Reliance MediaWorks about the deal in which Inox acquired a controlling stake in Fame India. Reliance MediaWorks has accused that the deal was at a lower price.

Inox acquired a 44% stake in the company on February 3 and on the next day it bought 7% stake in two block deals. Adding to that, the company announced an open offer on February 6, to acquire up to about 8.2 million equity shares at Rs 51 a share.

Inox expressed interest in buying 20% in Fame StockWatch

InoxInox Leisure Ltd, a leading multiplex chain in the country has made an offer to buy 20 percent of equity capital of Fame India Ltd. Fame India is a cinema chain with a market value of Rs1,900 crore on current prices.

For acquiring 20% stake or around 8.23 million shares the company has suggested a price of Rs. 51 per share. The offer will open on the April 1 until April 20, indicated the offer manager Enam Securities in filing to the exchange in Mumbai.

Inox had earlier invested 792.5 million rupees to acquire 50.48 percent stake in the company in two separate transactions.

INOX Leisure launches 20% open offer for Fame India

Multiplex operator INOX Leisure's open offer for an additional 20 per cent stake in Fame India will begin on April 1, 2010 and would close on April 20, 2010.This would take the total shareholding in the later to 50.48 percent.

INOX Leisure had made an offer to acquire up to 82,31,759 equity shares representing 20 per cent of the target company at a price of Rs 51 a piece. The open offer price is 4 per cent lower than the prevailing market price of Fame India at Rs 53.30 on the BSE. On Wednesday, INOX Leisure had acquired 43.28 per cent stake in Fame India for Rs 66.48 crore making it India's No. 2 multiplex chain.

Recently the multiplex operator raised holding in Fame India by 7.21 per cent to 50.

INOX Buys 43.28% Stake In Fame, Shares Surge 10.9%

INOX Buys 43.28% Stake In Fame, Shares Surge 10.9%Multiplex operator INOX Leisure, a wholly division of Gujarat Fluorochemicals, announced that it has bought 43.28% equity stake in Fame India for Rs 66.48 crore.
Inox will purchase around 1,50,57,760 shares of Fame India for Rs 10 each, through a block trade in a single or multiple portions.
This acquirement will be accompanied by an open offer to get hold of another 20% in Fame India by making an open offer to the stock holders
The deal is completely funded by Gujarat Fluorochemicals.

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