Thaindian News

By Ranjan Bhaduri
July 8, (THAINDIAN NEWS) The Film and media wing of India based MNC Anil Dhirubhai Ambani Group, Reliance MediaWorks has confirmed that it has purchased an additional 0.05 percent stake in India’s well known multiplex chain Fame. After this its stake in fame has become 15.77 percent. The ADAG reported the purchase of this additional stake to the Bombay Stock Exchange. Incidentally Reliance MediaWorks owns and operates the nation’s largest cinema chain BIG Cinemas is fighting a takeover battle with the other big operator Inox Leisure. The later bought 43.28 percent stake of Fame India a few months back. However, Fame has got a much better deal from ADAG.

The Stocks of Fame India have been purchased by three Anil Ambani Group ventures namely - Reliance Capital Partners, Reliance Capital and Reliance MediaWorks. The three companies have acquired a total of 16,196 shares. The purchase has been done through open market transaction. Prior to this the ADAG companies had bought 0.03 per cent stake in Fame India on June 30. The multiplex business in India is seeing an unprecedented growth and ADAG does not want to let Inox grab the lion’s share.

Reliance owned Big Cinema operates in all the major metros of India and in almost all these cities it competes with Inox and Fame India. Big Cinemas has also got into film production and a few days back it released the latest Mani Ratnam flick named Raavan all over India. Big Cinemas came into the multiplex scene later but after its advent it has slowly built its base in the major metros and contributes to the box office collections of several Bollywood blockbusters.