Inox Leisure acquires remaining stake in Shouri Properties to make it wholly-owned subsidiary

21 Jan 2022 , 09:58 AM

Inox Leisure Limited has acquired the remaining 0.71% stake in Shouri Properties Private Limited (SPPL from its shareholders, making SPPL a wholly-owned subsidiary of the company. The company previously was holding a 99.29% stake in SPPL.

The company acquired 10,000 Equity Shares of SPPL at a cost of Rs1 lakh at a face value of 10,000 shares each.

Mumbai-based SPPL holds a license to operate a multiplex cinema theatre. SPPL has taken one multiplex cinema theatre on lease and sub-leased the same to the company. Turnover of SPPL (excluding other income) for FY21 is Rs22.33 lakhs.

At around 10.00 AM, Inox Leisure Ltd was trading at Rs382.55 per piece down by Rs2 or 0.52% from its previous closing of Rs384.55 per piece on the BSE.