Thanks shg,
Returned error in the code. Type mismatch.
I have attached WB with Time column and macro. Would appreciate if you could take a look 
Sub f_time1()
Dim cell As Range
Dim iMin As Long
iMin = InputBox("Input time")
Cells.Find(What:="Time", After:=ActiveCell, LookIn:=xlFormulas, LookAt _
:=xlPart, SearchOrder:=xlByRows, SearchDirection:=xlNext, MatchCase:= _
False, SearchFormat:=False).Activate
Cells.FindNext(After:=ActiveCell).Activate
Range(Selection, Selection.End(xlDown)).Select
For Each cell In Selection.Cells
cell.Value = Round(cell.Value2 * 1440 / iMin, 0) * iMin / 1440
Next cell
Selection.NumberFormat = "h:mm"
End Sub
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