Fame India plans to raise Rs 90 cr via rights issue

Fame India, the multiplex operator, said on Tuesday that it plans to raise up to Rs 90 crore through a rights issue.

“The board of directors of the company at its meeting held on April 19, has accorded to issue equity shares on rights basis to the existing equity shareholders of company up to Rs 90 crore,” the India’s largest multiplex operator said in a filing to the stock exchanges.

The board constituted a Right Issue Committee of directors and delegated all the powers to the said committee to decide about the ratio of the issue, the issue price, appointment of merchant banker and all other matters required or necessary in connection with the issue, said the company.

The stock closed up 5% at Rs 62.70 on the National Stock Exchange (NSE).