Where Bollywood Comes Alive
Posts tagged Cinemax
IHLS draws worse than Raavan and Kites?
Jul 11th
Thursday, July 08, 2010
Much as a lobby in media papers and some affiliated portals have been reporting bloated figures and occupancies for I Hate Luv Storys as a commercial grosser, comparing it to All India hits like Ajab Prem Ki Ghajab Kahani and what not, the reality on the ground is much different, even at the multiplexes. The Karan Johar film featuring Imran Khan-Sonam Kapoor has lower figures and occupancies than even last month’s disaster Raavan in India (Abhishek Bachchan-Aishwarya Rai), and less than Kites (Hrithik Roshan-Barbara Mori), which too was a disaster, and quite a lot worse than Prakash Jha’s Raajneeti which was a hit.
Even in overseas in North America where it released mid-week Wednesday itself looking to capitalize on 4th July holiday coming up there, IHLS the film’s collections were not upto expectation given it’s a Karan Johar production, collecting a subpar $375K over the 3 day weekend and $535k over the extended 6 day wednesday-monday period there. Raavan which was a disaster overseas also 2 weeks before fetched $482k over its 3 day opening weekend despite opening below expectations and crashing on Sunday. Rajneeti earlier in June did $850k in USA for its 3 day weekend despite supposedly being an Indian interiors themed film.
In India, contrary to opening average of 80-90% claims across all multiplexes last Friday for IHLS, the multiplex opening average for this ‘youth-centric’ fare was actually closer to 40%-50% opening average with single screens much much lower. And by Wednesday, with possible exception of Delhi metro, the same multiplexes were drawing hardly 10-20 people for this ‘multiplex hit’. This can be verified by visiting a multiplex like Cinemax in Andheri in Mumbai or Fame in Highland park in Calcutta. Coming up 2nd weekend too is equally shaky. The multiplexes have been asked to allocate large number of screenings again but the actual advance bookings are sad. Not even 1% in some cases.
The collections are barely over 26-27 crores (even less according to some distributors) with occupancies worse than the flops of recent past.
Next up this Friday, Shahid Kapoor-Kareena Kapoor make a comeback with Milenge Milenge. And also Red Alert a take on naxalism. The following week sees Sanjay Dutt’s Lamhaa and a comedy called Tere Bin Laden, apart from Udaan.
IBOSNETWORK.COM
The curious case of Bebo and Shahid
Jul 9th
Boney Kapoor’s new film has managed to create the required buzz
Meena Iyer | TNN (BOMBAY TIMES; July 9, 2010)
For an industry that thrives on hope, no situation is actually beyond it. Case in point would be Boney Kapoor’s Milenge Milenge that is releasing worldwide today. This mushy romantic caper with Kareena Kapoor and Shahid Kapoor is not oven-fresh. Even the star-couple have grown apart in the last three years; yet the excitement over their screen outing is palpable.
Rakesh Sippy, who has acquired the distribution rights of this Satish Kaushik film for Mumbai, says, “I think the film has immense potential. Besides, my father Ramesh Sippy has been distributing Boneyji’s films since Mr India, and we have a long and fruitful association.’’
Devang Sampat, Senior Vice President, Cinemax chain, is hopeful the curiosity generated by the Shahid-Kareena pairing will get the movie-goer in. “The youth is excited about seeing these two actors together after a gap,’’ says Devang. Trade consultant Amod Mehra believes the film has an advantage coming after the couple’s super hit Jab We Met. “Though there has been a long screen interval between the two films, this has only whetted the appetite for them,” he says.
A theatre round shows that the standees of Milenge Milenge with Kareena and Shahid is a topic for avid discussion among youngsters.
Prompting trade guru Taran Adarsh to say, “Jab We Met came in 2007, but people are still talking about the magical chemistry
between Kareena and Shahid. And while Milenge Milenge may not be able to replicate the same sentiments, this jodi in a romantic film is exciting for me as a viewer.’’ Amod adds, “In Bollywood, one doesn’t say never because neither friendship nor enmity is permanent here. However, this could well be Shahid and Kareena’s last film together, and because of this factor alone, people are curious to see this film.’’
Eros out, Saif Ali Khan takes Agent Vinod to Cinemax?
May 24th
By Bollywood Hungama News Network, May 24, 2010 – 13:10 IST
Agent Vinod, the film that’s all the buzz, thanks to its starcast Saif Ali Khan and Kareena Kapoor, has cut all ties with Eros International. Grapevine says that budgets were an issue.
Apparently, the official financers of the film, Eros International, wanted to rework the budget of the film and cut down numbers, something that producers from Illuminati Films, Saif Ali Khan and Dinesh Vijan, were not happy about. Any compromise on the film was not acceptable to the producers. This led to disagreement and fall out between Eros and Illuminati films.
It is being said that Cinemax has now stepped in and will now be the official presenter of Agent Vinod. When we contacted co-producer Dinesh Vijan to confirm this news, he avoided commenting on the presenter of the film. “There are no budget issues. We are going ahead with the same budget we started off with and the film is being produced by Illuminati films. Any involvement of Cinemax is something I am not aware off,” he said.
Agent Vinod is all set to go on floors this week and has quite a feisty itinerary to talk about. The shoot starts off in Morocco and the crew will be shooting in all the talked about European countries like Amsterdam the locales in east of Europe, coming back to Delhi eventually. The film will be directed by Sriram Raghavan.
BOLLYWOOD HUNGAMA.COM
Small-budget films to battle it out at box office during IPL
Mar 11th
Bharati Dubey | TNN (THE TIMES OF INDIA; March 11, 2010)
Mumbai: Small-budget films that cost a total of around Rs 200 crore to make face an uncertain future due to their release dates clashing with IPL matches, which are expected to generate only about Rs 60 crore from screenings in about 700 cinemas across India in the next 45 days.
Sanjay Gaikwad, MD, UFO Moviez, said the IPL is “content-driven and I’m hoping it generates business of more than Rs 40 crore. If this works, I’m sure IPL will generate at least Rs 70 to 80 crore next season’’.
Marketing experts said exhibitors are eyeing business of Rs 60 crore to 70 crore if cinemas get occupancy of about 70% with each screen showing all 46 matches. “It’s something new they are trying as there is no good content in cinema right now,’’ said a marketing expert.
Devang Sampat, vice president, Cinemax Cinema, said, “We are expecting to generate about Rs 6 crore from the IPL and will screen all 46 matches at our 30 properties.’’ Harshvardhan Gangurde, vice president (marketing), Inox cinemas, said, “Any highprofile content, like T20, will impact attendance in cinemas. One has to live with it now and, in fact, amalgamate cricket into the programming in the future.’’
But some trade experts are unsure if it will work. An insider said, “The youth like to smoke and drink while watching IPL, so they would prefer a bar or stay at home rather than go to a cinema.’’
But cricket is a religion in India and the film industry is scared of it taking over cinemas too. Most big movies will release only after April 16, when IPL and the T-20 World Cup will be over. The only exception is ‘Housefull’, which will release between the two tournaments.
Meanwhile, small-budget films are going to brave it out. Trade analyst Taran Adarsh said, “There are five releases per week and some from the likes of Subhash Ghai and Shyam Benegal. If IPL screening works, the film industry will be doomed because theatres will start screening all big matches.’’
Some films being released are RGV’s ‘Phoonk 2’, ‘Paathshala’, Nikhil Advani’s ‘Jaane Kaha Se Aayi Hai’, ‘Lahore’, the Vivek Oberoi-starrer ‘Prince’ and T P Agarwal’s ‘Na Ghar Ke, Na Ghaat Ke’. Some films, like Sunny Deol’s ‘Right Yaa Wrong’ and the Shahid Kapoor-starrer ‘Milenge Milenge’, have been in the making for long.
50 city cinemas to show IPL matches
Mar 11th
Bharati Dubey | TNN (THE TIMES OF INDIA; March 11, 2010)
It is cricket-ainment time at cinema halls across India, with nearly 650 screens gearing up for live telecasts of Indian Premier League (IPL) matches, which will begin from Friday and continue for more than six weeks. Sources said that the final number of screens could cross 700. Cine-goers will get to watch matches without commercial breaks and also avail of other incentives. Topmost among them is master-blaster Sachin Tendulkar’s autographed bat, which will be circulated across all cinemas and later auctioned. Sanjay Gaikwad, of UFO Moviez, said, “A bat Tendulkar has used will be auctioned off.’’ The funds will go to Apnalaya, an NGO endorsed by him.
Tendulkar also auctioned off the first theatre ticket for the matches. From a base price of Rs 5 lakh it went for Rs 11 lakh. The money will also go to Apnalaya. Tendulkar said, “This is a very good initiative and if high-content cricket reaches the remotest areas of the country more and more youngsters will be encouraged to play the game.’’
In Mumbai, about 50 cinema halls will screen matches, including Cinemax, New Excelsior, Roxy, Meghraj (Vashi), Gem (Bandra), Inox, Fame, PVR, Big and Broadway (Kandivli).
While the cinemas are geared up for the games, there is a small hitch in opening the advance bookings. Inox cinemas’ vice-president (marketing) Harshvardhan Gangurde said, “We are all set, but await a formal notification from the state government on taxes. Otherwise, things are in place.’’ There will be no entertainment tax exemption on IPL tickets. Gaikwad added, “The government will be charging about 20 to 34%, which is the same for any film ticket.’’ Sources said tickets would cost Rs 250 to Rs 300, the cost of an average movie ticket on weekends.
Some cinemas will offer alcohol. Devang Sampat, vice president, Cinemax Cinemas, said, “Corporate bookings have started and we are offering alcohol with them.’’
Most team sponsors have already done block bookings for the entire IPL season. A source said, “There is a lot of demand for Kolkata Knight Riders and Mumbai Indians, who probably have the maximum sponsors on board. Last season, KKR matches got the maximum eyeballs. With Tendulkar in tremendous form, there will definitely be a mad rush for his matches too.’’ Cinemas will offer cricketing merchandise and have cheerleaders, celebrities and live bands. Gaikwad said, “We are trying to bring the stadium into the theatre. There are lot of small towns where bookings are full and we have to add screens. In Nagpur it’s house-full even before the tournament begins.’’ In some states, including Tamil Nadu and Andhra Pradesh, cinema halls will not be able to screen the matches as film producers have objected because there would be fewer screens to show local movies. Gangurde, of INOX, said, “We hope to resolve the issue in Bangalore, but no live telecasts will happen in cinemas in TN and AP.’’
Lull in war of words, MNIK opens to packed houses
Feb 14th
STEALING THE SHOW: Shah Rukh’s wife and MNIK co-producer Gauri Khan, along with daughter Suhana, visits INOX and Metro cinemas in south Mumbai on Saturday afternoon. (Left) Members of the NCP buy 100 tickets for the movie, which was released at a multiplex in Thane on Saturday
SRK Will Visit Theatres Today; Almost 3,000 Sainiks Arrested In 3 Days
Bharati Dubey, Nitasha Natu, V Narayan & Nitin Yeshwantrao | TNN (THE TIMES OF INDIA; February 14, 2010)
Mumbai: As the Shiv Sena’s threats simmered down, My Name Is Khan (MNIK) opened to packed houses in most multiplexes in the city on Saturday.
Things were slowly getting back to normal, said a multiplex owner. “By Sunday, we may release the movie in other other parts of the state as well,’’ he said. No untoward incident was reported on Saturday.
Most halls in the city, which had removed MNIK posters, have replaced them. In fact, even in Thane—a Sena bastion—the movie has made its foray. Though the film was not shown there on Friday, NCP leader Jitendra Awhad organised a screening on Saturday. The management of Cinemax at Eternity Mall screened it for morning show (10.30 am). The shows were peaceful in other parts of Mumbai as well. All the seats were booked at Andheri’s Fun Cinemas on Saturday afternoon.
Single-screen theatres, which did not hold the show on Friday, released the film on Saturday. Though their collections were slightly lower than that of multiplexes, trade pundits expect that even single-screens will run full house on Sunday.
SRK’s wife and co-producer of MNIK Gauri Khan—with daughter Suhana in tow—visited INOX and Metro in south Mumbai in the afternoon. “People liked the film and that’s why it has got a good response,’’ Gauri said, finishing the sentence with a “Jai Maharashtra’’. Gauri was quick to dismiss speculation that the “good response” was due to the controversy generated before the film’s release.
“People liked the movie not because of the controversy. Karan Johar and his team worked hard. The film was in the making for three years. Their efforts have paid off,’’ she said, adding that Shah Rukh, who was in Berlin for the premiere of the film, was happy about the smooth release. The actor himself plans to visit the theatres in the city on Sunday. According to a source, a special screening for chief minister Ashok Chavan may also be organised at INOX.
Despite a limited release in Maharashtra, Gujarat and parts of MP, the film’s worldwide box-office collection on Friday stood at around Rs 25 crore. A trade analyst said MNIK could have easily earned an additional Rs 5 crore-Rs 6 crore had it had a normal release.
The Andheri police on Friday arrested Sena deputy shakha pramukh Kuldeep Singh, who along with three party members, had staged a protest at a theatre on February 11. Commissioner D Sivanandhan said 2,929 Sainiks had been arrested over the past three days.
Phased release stumped Sena
Feb 13th
Bharati Dubey | TNN (THE TIMES OF INDIA; February 13, 2010)
Mumbai: The Shiv Sena’s attempt to stop the release of ‘My Name Is Khan’ was foiled by the multiplexes’ strategy to release the film in phases. After a joint meeting on Friday morning, multiplex owners decided on a quiet release without announcements so that there was little chance to stall screenings. Initially, each multiplex chain opened one cinema hall each in Mumbai.
The first show started at Fun Republic, Andheri Link Road, at 12.10 pm, followed by PVR in Goregaon, Fame Adlabs in Malad, Big Cinema at Wadala, Cinemax at Ghatkopar and Inox at Nariman Point at 12.50 pm.
Most of the halls reported good attendance, but nobody was counting numbers on Friday. What was important was whether audiences feared the Sena, which has tried its level best to stop the screening of the film. There were stone-pelting incidents in suburban areas, but the show went on. Vishal Kapoor, chief operations officer, Fun Cinemas, said, “All shows are getting good audiences, and with the kind of response the film has received today the weekend will definitely see a good response.’’
After the big chains opened, smaller cinemas, including single-screen theatres, also braved the Sena’s resistance and opened ticket windows. Although bookings there started slow, they picked up by evening. Most of the multiplexes will screen 15 shows a day from Saturday onwards. Distributor-exhibitor Rajesh Thadani said, “Most of the cinema halls have started screening the film. Even single-screen theatres, I am told, have opened to about a 70% response, which is also good.’’
The film industry came out in full support of SRK, including his wife Gauri Khan, who visited Fun Cinema in the evening. She said, “I have come here on behalf of Shah Rukh to thank all the people who came out to watch the film and show support to us.’’
Other celebrities who watched the film first-day, first-show to express solidarity with the actor included Pooja Bedi, Kabir Bedi, Mahesh Bhatt and Hrithik Roshan.
Vikas Mohan, vice president of the Association of Motion Picture and Television Programme Producers, congratulated the Mumbai police and state government for showing courage. “It has boosted the morale of the film industry. Had the film failed to release, it would have given a wrong signal and encouraged those who were opposing the release,’’ he said.
Dinesh Chaturvedi, of the Federation of Western India Cine Employees, said, “All our members are out guarding various cinema halls. We are here to support SRK. The show will go on.’’
Trade analyst Taran Adarsh said, “The film had a very good start at practically every centre.’’ He said single screens in big centres saw 70% collections and multiplexes fared slightly better.
bharati.dubey@timesgroup.com
City shrugs off fear
Feb 13th
Taking Advantage Of Heavy Police Security & A Holiday, Mumbaikars Catch First-Day Screenings Of ‘My Name Is Khan’
TIMES NEWS NETWORK (THE TIMES OF INDIA; February 13, 2010)
Mumbai: Whatever else he might have done, actor Shah Rukh Khan ensured one thing: that the city’s politicians took time off from their routine and spent a morning in a cinema hall—first-day, first-show no less. Which other actor can brag of such a fan following?
On Friday, Mumbai came out in large numbers despite the Shiv Sena’s threat to stay away from cinema halls screening ‘My Name Is Khan’. Leading the pack of cinegoers was home minister R R Patil. Others, such as MP Sanjay Nirupam and state minister Arif Nasim Khan, also watched the film, as did the likes of filmmaker Mahesh Bhatt. Khakhi freely mixed with mufti at theatres, as cops roamed conspicuously and security arrangements were tight.
SOUTH MUMBAI
“Those who want to exhibit the film will be given complete protection,’’ said Patil. The politician brushed aside all talk of the government’s failure to give confidence to exhibitors. “We have assured them protection. Now they have to decide if they want to release the film,’’ he added, before walking in to watch ‘My Name Is Khan’ at Nariman Point’s Inox theatre.
Taking complete advantage of the Mahashivratri holiday, Mumbaikars came out in numbers to cinema halls. “Initially, we were hesitant but then thought the police would do their job and we should enjoy the film,’’ said consultant Rakesh Gupta, who watched the film with his wife.
Byculla resident Mehmood Shaikh, who also watched the movie, had a different reason for showing up. “I came to see the crowds and the media coverage the movie was getting,’’ he said rather honestly.
At Sterling cinema in the Fort area, a mother-daughter duo watched the film without any fear. “The only problem was the long checking process at the entrance, but I guess they were just doing their job,’’ said the daughter. “We were asked to show photo IDs, probably to prove we were not Shiv Sainiks,’’ she said.
WESTERN SUBURBS
While only a couple of cinema halls in the western suburbs had chosen to screen the film in the morning, by afternoon nobody wanted to lose out on the business. Cops were deployed in large numbers at multiplexes in Goregaon’s Oberoi Mall and Andheri’s Fun Republic. ACP (West) Amitabh Gupta and zonal DCP (West) K M M Prasanna were both personally present at the theatres to supervise security arrangements.
MP and Congress leader Sanjay Nirupam watched the first show at Andheri’s Fun Republic. “There were many people in the theatre, including kids,’’ claimed Nirupam. “This is a clear indication that people are rejecting the Sena’s so-called movement,’’ he said. State minister Arif Nasim Khan also came to watch the film with friends.
Crowds from the western suburbs were seen carrying banners in support of the movie. IIT-ian Saurabh Jain came with friends and said they would watch the film without fear. But cinema owners played safe by only selling tickets an hour before showtime. Needless to say, ticket counters were swamped with cine-goers.
On Friday morning, Sena supporters pelted stones and bottles at Fun Republic but the cops nabbed them promptly. At Cinemax in Kandivili (East), there was an attempt to disrupt the screening. “About 30 Sainiks were picked up as soon as they began to tear posters,’’ said Ajit Patil, DCP (zone 12). All the accused were hauled to the Samta Nagar police station. In Andheri (west), two BEST buses and an auto rickshaw were damaged. “We got calls saying shops were forcefully being made to shut down and BEST buses were stopped in Jawahar Nagar in Goregaon (west),’’ informed a senor police official. “The team reached the spot immediately but the miscreants couldn’t be traced,’’ he added.
EASTERN SUBURBS
Khan lovers from Dombivli, Kalyan and Ulhasnagar turned up at the Fame multiplex in Kalyan, only to be disappointed since the booking counter was closed. “The decision not to show any films for an undefined period has come from the top,’’ said an employee.
But Mumbaikars thronged single-screen theatres in the central and eastern suburbs. Kalpana theatre at Kamani Road in Kurla (west) showed the film at 12 noon with 349 seats filled. “All tickets went in current booking and the show went off without incident,’’ said theatre manager Babu Bhai. Cops from police stations at Kurla and VB Nagar were deployed at the cinema hall. On February 9, glass windows were shattered in the theatre. The management believes their legal advisor led the agitation. “The man has gone into hiding but we are looking for him,’’ said ACP (Kurla division) Prabhakar Satam.
The Ghatkopar-based single screen Shreyas cinema sold 35 tickets for the noon show—a third of normal capacity. “We decided to go ahead with the release after the zonal DCP personally led the security charge on the premises,’’ said an employee. Meanwhile, bandobast was beefed up at the Ghatkopar-based Cinemax theatre on Ram Narayan Narkar Marg where police officials from Pant Nagar, led by senior inspector MS Suryavanshi, provided security.
—Reported by Yogesh Naik, Mateen Hafeez, Vijay V Singh, Sanjeev Shivadekar, Nitasha Natu & V Narayan
B.O. update: ‘M.N.I.K.’ opens to a deafening response!
Feb 12th
- By Taran Adarsh, February 12, 2010 – 16:01 IST
Humungous — that’s the right word to describe the initial response to MY NAME IS KHAN. The film had a deafening start at practically every centre, with practically every multiplex generating 100% collections, while single screens in mass-dominated centres opened to a 70% – 80% response, which is very, very good.
At a major theatre in Delhi, the audiences heralded the arrival of the film with band-bajaa and by bursting crackers. Outside a theatre in Patna, a moviegoer distributed roses to cinegoers who had come to watch the film.
The reviews from critics who matter are already out [every reviewer has praised the film to the skies] and the audience feedback is overwhelming. In fact, at several places, there has been a mad scramble to book the tickets and the film is expected to set theatre, city and district records at most centres.
In Mumbai, the multiplexes had decided to open shows at one property each. Hence, the multiplexes didn’t perform the morning shows, but commenced screening from 12 noon onwards. The screenings began at Fun Republic [Andheri], Inox [Nariman Point], PVR [Goregaon], Fame [Malad], Big [Wadala] and Cinemax [Kandivali]. The multiplexes have now started screening the film at other properties.
Despite the Mumbai release getting affected, the film should have a solid, record-breaking Friday, in terms of box-office numbers.
BOLLYWOOD HUNGAMA.COM
Inox may phase out Fame brand
Feb 10th
Udit Prasanna Mukherji | TNN (THE TIMES OF INDIA; February 9, 2010)
Kolkata: Inox, which has bought the promoters’ stake in Fame, may phase out the acquired brand in future.
Inox director Deepak Asher indicated the group is unlikely to retain two multiplex brands in the long run. “We will evaluate the situation. There could be one brand and in that case, it is likely to be Inox,’’ Asher, who was in the city on Monday, told TOI.
Inox had earlier rebranded 89 Cinemas in Kolkata — after buying it in 2006 — as Inox Swabhumi. Asher said the company will continue to look at inorganic opportunities. “We have done acquisition earlier and will also look to do in future,’’ he said.
After buying 43.28% stake owned by the promoter family of Fame for an all-cash consideration of Rs 66.48 crore, Inox has already come out with an open offer for acquiring additional stake.
Asher said that after the acquisition, Inox group will have 55 properties and 205 screens. “Inox will set up 10 new properties and Fame will add five properties in Kolkata by December 2010. There will be a total of 55 new screens. The investment per screen is Rs 2-3 crore,’’ he added.
Asher claimed that after the acquisition, Inox will become the undisputed leader in most regions. The other national players in the multiplex business are Big Cinemas, PVR, Cinemax and Fun Republic.
Elaborating on future plans, he added that film distribution and production will be other areas Inox will actively look into. “The distribution business will comprise 10% of our turnover in future,’’ he added. Incidentally, Fame has a subsidiary for film distribution called Shringar Films. It has distribution rights for 100 films.
Fame ignored higher bid from us: ADAG co
New Delhi: The decision of Fame India’s promoters to sell their stake, with the management control, to Inox Liesure at around Rs 48 per share has led to loss of money for its minority shareholders as the company ignored a much higher offer from Reliance MediaWorks (RMW), an Anil Dhirubhai Ambani Group company.
In a letter to promoter Shravan Shroff, RMW CEO Anil Arjun claimed that his company had offered to acquire the entire promoters’ stake of 43.28% in Fame India at Rs 80 per share. But, the promoters Shyam and Shravan Shroff sold their holdings to Inox Leisure at around Rs 48 per share in two block deals on February 3 and 5.
Several attempts to contact Shravan Shroff and Fame India spokesperson to obtain their views on why the promoters sold their holdings at lower prices failed. Neither of them took calls or replied to SMSes. They did not answer to an e-mail sent to them.
An ADAG spokesperson admitted that the company has written to Shravan Shroff about the issue. However, he refused to give details.
“Over the past nearly two weeks, we have confirmed our definite intention, in several meetings with you and your family, to buy the above (promoters) stake at an aggregate price of Rs 80 per share, representing an almost 100% premium to the prevailing market price,” Arjun wrote in the letter dated February 4. TOI has a copy of the letter.
After buying 43.28% stake in Fame India, Inox has already given an open offer to acquire additional 20% stake from public at Rs 51 per share. The offer opens on April 1, 2010. As Inox had already acquired around 7% stake in Fame through open market transaction, its total holding stands at 50.48%. So even if the open offer fails, Inox will get the management control of Fame India.
So, a senior ADAG official said, it would not like to give an open offer to acquire shares from public at Rs 80 per share.
“I am unable to understand that in this background, how the controlling stake has been sold by you, at a price which is nearly 50% lower than the firm price we had indicated in a very firm and credible offer,” Arjun said in the letter. Fame India’s stock closed at Rs 55.95 on Monday.
