<p>The nod came after about eight months wait since Inox Leisure and Anil Ambani Group company Reliance Mediaworks made these offers way back in February 2010.<br /><br />Inox and R-MediaWorks are embroiled in tough fight to control Fame India. Inox has chain of multiplexes across India and holds around 50.2 per cent stake in Fame India.<br /><br />Inox had announced its offer at a price of Rs 51 per share, while offer by R-MediaWorks, which holds 16 per cent stake in Fame via Reliance Capital, was at a price of Rs 83 per share.<br /><br />The takeover code of SEBI mandates that any entity owning more than 15 per cent in a company has to make a mandatory open offer for at least additional 20 per cent stake.<br /><br />Shares of Fame India today closed 1.50 per cent higher at Rs 81.40 apiece on the Bombay Stock Exchange.</p>
<p>The nod came after about eight months wait since Inox Leisure and Anil Ambani Group company Reliance Mediaworks made these offers way back in February 2010.<br /><br />Inox and R-MediaWorks are embroiled in tough fight to control Fame India. Inox has chain of multiplexes across India and holds around 50.2 per cent stake in Fame India.<br /><br />Inox had announced its offer at a price of Rs 51 per share, while offer by R-MediaWorks, which holds 16 per cent stake in Fame via Reliance Capital, was at a price of Rs 83 per share.<br /><br />The takeover code of SEBI mandates that any entity owning more than 15 per cent in a company has to make a mandatory open offer for at least additional 20 per cent stake.<br /><br />Shares of Fame India today closed 1.50 per cent higher at Rs 81.40 apiece on the Bombay Stock Exchange.</p>