NEW DELHI: Multiplex operator INOX Leisure today announced the acquisition of 43.28% stake in Fame India for Rs 66.48 crore, and will make open offer to acquire additional 20% stake.

"In a block deal executed through the BSE today, INOX bought 43.28% stake or 1,50,57,760 shares owned by the promoter family of Fame, for an all cash deal of Rs 66.48 crore.

The transaction is entirely funded by INOX's promoter company, Gujarat Fluorochemicals, as a shareholder loan," INOX Leisure said in a filing to the Bombay Stock Exchange.

The acquisition would create one of the India's largest multiplex networks with a combined strength of 55 multiplexes, 204 screens and a total seating capacity of 57,891 seats, the filing said.

"Today, we are pleased to announce to our stakeholders that we have translated our vision into reality -- we have one of India's largest network of multiplex screens and have truly raised the bar in providing a world class cinema experience to our patrons," INOX Group of Companies director Deepak Asher said.