Promoters up stake in Reliance Infra
The Anil Ambani group firm Reliance Infrastructure Ltd on Friday said its promoters have invested `2,095 crore in the company, raising their stake by about 5% to 48%.
The shares have been allotted to the promoters after they converted warrants issued to them in July 2009.
In a statement, the firm said it allotted 22.6 million equity shares to AAA Project Ventures Pvt. Ltd, a promoter group company, against convertible warrants issued to them for `2,095 crore.
The company in July 2009 allotted 42.9 million convertible warrants to AAA Project Ventures entitling them to equal number of equity shares at an issue price of `929 per share. The total warrants were equivalent to shares worth about `4,000 crore.
Inox acquires Fame shares in open offer
Multiplex chain Inox Leisure Ltd said on Friday that it had acquired 1,075 shares in rival Fame India Ltd in an open offer.
Inox had launched an open offer for 8.23 million shares of Fame, aggregating to 20.25% of the fully diluted share capital of the company, at ` 51 a share.
Fame has been embroiled in a takeover battle between Inox and rival Reliance Media Works Ltd since the beginning of 2010. Reliance Media Works had also made an open offer for 21.7 million shares, amounting to a 53.38% stake in Fame, at `83.4 a piece
