Inox, Fame India shares gain ahead of board meet on merger

MUMBAI, June 15: Shares of Fame India and its parent Inox Leisure today surged as much as 5 per cent ahead of their board meetings today to consider the amalgamation of the two companies.
Fame India shares gained 4.98 per cent to touch an upper circuit limit of Rs 47.40 on the BSE.
Inox Leisure surged 4.6 per cent to Rs 52.20.
Inox is the parent entity of Fame, which in turn has some subsidiaries in the entertainment business.
“The board of directors of the company will meet on June 15, 2012, to consider amalgamation of Fame India, a subsidiary of the company and its existing wholly owned subsidiaries namely, Fame Motion Pictures Limited, Big Picture Hospitality Services Private Limited and Headstrong Films Private Limited with the company,” Inox Leisure had said in a filing to the BSE last week.
A similar filing was made by Fame India.