Multiplex operator Inox Leisure today said it will 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.
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 Sebi's approval to the letter of offer," Inox said in a filing to the BSE.
Inox, which is facing a takeover battle from the Anil Dhirubhai Ambani 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.
Earlier, Reliance MediaWorks--an ADAG firm--had also said its open offer to acquire an additional 52.72 per cent stake in multiplex operator Fame India has been delayed for want of market regulator Sebi's approval.
Both, the open offers were originally scheduled to begin on April 1.
Shares of Inox today jumped 4.62 per cent to settle at Rs 70.25 on the BSE, while Fame shares remained unchanged at Rs 85.
