INOX Leisure (INOX), India's premium multiplex brand, Wednesday executed transaction documents to acquire New Delhi headquartered Satyam Cineplexes
(Satyam) by way of acquisition of 100% of the equity share capital of Satyam from its existing shareholders for a consideration of Rs 1.82 billion, subject to closing.

The proposed acquisition of one of the industry's prime assets, is a part of INOX's strategy to expand its footprint across the country and gives INOX a significant foothold in the North Indian region.

Post the proposed acquisition, INOX shall be present in 50 cities with 91 multiplexes and 358 screens.

The acquisition of Satyam shall be the third by INOX in less than a decade. INOX has earlier acquired Calcutta Cine Private in 2007, which triggered the consolidation phase in the multiplex industry, followed by Fame India in 2010.

Shares of the company gained Rs 4.8, or 3.15%, to trade at Rs 157.05. The total volume of shares traded was 86,581 at the BSE (11.53 a.m., Thursday).