SRS gets Sebi nod for its IPO

SRS Ltd got Sebi approval to launch its initial public issue, the company will issue 35,000,000 equity shares of Rs. 10/- each constituting 25.13% of the post-issue share capital of the company. The company is in the process of filling its RHP soon.

SRS Limited is a diversified Company with a business portfolio comprising of Cinema Exhibition, Food & Beverages, Retail and Manufacturing & Retailing of Jewellery. The Company was incorporated on August 29, 2000 with the objective of trading in FMCG Goods and it later entered into other business segments. The four business verticals of the Company enable it to profitably exploit the business synergies, as well as, smoothen out seasonal business fluctuations. The four business verticals of the Company are Cinema Exhibition: SRS Cinemas, Food & Beverages, SRS Value Bazaar -Retail and Cash & Carry, and SRS jewellery

The objects of this Public Issue are to raise funds for:

• Setting up of cinemas;
• Setting up of food courts and restaurants;
• Setting up of  retail stores;
• Setting up of jewellery manufacturing facility and jewellery retail stores

Disclaimer: “The Company is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India (“SEBI”). The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the website of the Book Running Lead Managers (“BRLM”) to the issue.

Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to the section titled “Risk Factors” of the DRHP for details of the same.

This press release is not for publication or distribution, directly or indirectly, in or into the United States.  This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration as provided in the U.S. Securities Act of 1933, as amended.  SRS  Limited does not have any current intention to make any public offering of, or to register, any securities in the United States.