Posted on behalf of Hitesh Patel, of Hitstocks fame
Fame India, where Inox got majority holding from promoters and from markets (open offer) at around 51 Rs after which ADAG group jumped in and bought a lot of shares at around 83 per share through open offer. Announcement is there on bse. Inox currently has slightly above 50% holding as of now. again announcement on bse. Now the tricky thing is the conversion of FCCBs issued by fame which are slated to get converted at a price of 107. Now if somehow ADAG acquires these fccbs, it will be in majority control. So things could get real interesting. cmp is around 47 per share.