Fame India Ltd Merged Company Summary

Fame India Ltd Merged Summary

Fame India Ltd is engaged in exhibition of films in India, including owning/ managing multiplexes. The company operates in three segments, namely theatrical exhibition, film distribution and others, which consists of programming arrangements, management contracts and productions of movies. They have two subsidiaries, namely Shringar Films Ltd and Big Pictures Hospitality Services Pvt Ltd.Fame India Ltd was incorporated on October 26, 1999 as a private limited company with the name Shringar Cinemas Pvt Ltd. Initially, the company was established as a subsidiary of Shringar Films Ltd. In the year 2002, the company launched one multiplex with the name Fame Adlabs Multiplex at Versova Mumbai. In March 25, 2004, Shringar Films Ltd sold their shareholding in the company to South-Yarra Holdings, a partnership firm. Thus, the company ceased to be a subsidiary company of Shringar Films Ltd. In March 27, 2004, the company purchased 999,900 equity shares (100% of the paid-up equity) of Shringar Films Ltd from their erstwhile shareholders. Consequently, Shringar Films Ltd became a 100% subsidiary of the company.During the year 2004-05, the company started two multiplexes, Fame Malad and Fame Nasik. In December 19, 2004, the company was converted into public limited company and the name was changed to Shringar Cinemas Ltd. They came out with an initial public issue of their shares and their shares were listed on the National Stock Exchange of India Ltd and The Stock Exchange, Mumbai with effect from April 29, 2005.In August 2005, as per the shareholders agreement, the company transferred 0.01% holding in of Swanston Multiplex Cinemas Pvt Ltd to Reliance MediaWorks Ltd. Consequently, Swanston Multiplex Cinemas Pvt Ltd ceased to be a subsidiary of the company.During the year 2005-06, the company launched 2 new multiplexes, namely Fame Kandivali and Fame Kolkata (Hiland Park). They received the Star Screen Award for the best Distributor/ Exhibitor category during the year. In March 8, 2006, the company purchased 10,000 equity shares (100% of the paid-up equity) of Big Pictures Hospitality Services Pvt Ltd. Thus, Big Pictures Hospitality Services Pvt Ltd became a wholly owned subsidiary company. During the year 2006-07, the company opened 6 new multiplexes, namely Fame Pune with 3 screens, Fame Nakshatra and Fame Thakur in Mumbai with one screen each, Fame Aurangabad and Fame Anand in Gujarat with 3 screens each and Fame Surat on management contract model with 6 screens.During the year 2007-08, the company launched 4 new multiplexes with 15 screens, namely Thakur Fame Dahisar in Mumbai with 4 screens, Thakur Fame Movie in Mumbai with single screen, Fame Lido in Bengaluru with 4 screens and Fame Southcity in Kolkata with 6 screens. In January 25, 2008, the company changed their name from Shringar Cinemas Ltd to Fame India Ltd. During the year 2008-09, the company launched 6 new multiplexes with 20 screens, namely, Fame Raghuleela Vashi in Mumbai with 6 screens, Fame Shalimar Bharuch in Gujarat with 3 screens, Fame Shriram Mall, Dhanbad in Jharkhand with 4 screens, Fame Neelyog Mall, Ghatkopar in Mumbai with 2 screens, Fame Shalimar Panchkula in Haryana with 3 screens and Fame Shankarnag in Bengaluru with a single screen. Also, they launched an additional screen in an existing multiplex located at Inorbit Malad in Mumbai.In November 3, 2008, the company purchased 5,000 equity shares (50% of the paid- up equity share capital) of Headstrong Films Pvt Ltd, which is primarily engaged in production and distribution of films.During the year 2009-10, the company launched the additional screens in the existing multiplexes located at Mumbai (5 screens), Bengaluru (5 screens) and Pune (3 screens). They launched their maiden multiplex in the city of Baroda with 4 screens. Also, they launched a Second property under the operating and management model in Baroda with 3 screens. They discontinued operations of a single screen comprising of 782 seats in Mumbai upon expiry of lease period due to commercial reasons.In February 2010, INOX Leisure Ltd acquired 43.28% stake in the company. In January 2011, INOX Leisure Ltd completed the acquisition of a majority stake in the company. Inoxs stake in the company now stands at 50.27% of the issued and paid up capital. Accordingly, the company became a subsidiary of Inox Leisure Ltd.