TMT
By 05 April, 2010

Religare Securities Ltd has increased its stake in multiplex operator Fame India to 5.82 percent from 0.70 percent, according to a filing made by Fame to the Bombay Stock Exchange on Monday.

The stake increase was effected on March 25.

As Religare is a broker, shares are held in the ordinary course of business towards margin or collateral on behalf of clients, the filing said.

Fame India is the subject of a takeover battle between Reliance Mediaworks and Inox Leisure.

Inox already holds 50.48 percent in Fame while Reliance Media has delayed an open offer to acquire 21.7 million shares in Fame.

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