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SRS 3.5cr shares IPO to open on August 23
SRS, a diversified company having businesses like cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery, is entering the capital market with an initial public offering (IPO) of 3.5 crore equity shares on August 23, 2011, by diluting 25.13% stake.
SRS , a diversified company having businesses like cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery, is entering the capital market with an initial public offering (IPO) of 3.5 crore equity shares on August 23, 2011, by diluting 25.13% stake.
The company intends to use these proceeds for setting up cinemas, food courts and restaurants, retail stores and jewellery manufacturing facility.
SRS has reported a rise of more than 56% in its total income for FY11 to Rs 2,077.71 crore as compared to previous financial year. Net profit in the same period jumped 43.4% to Rs 37.51 crore.
Promoters' stake will be reduced to 74.04% from the current holding of 98.89% post the issue.
Karvy Investor Services Limited, IDBI Capital Market Services Limited and SPA Merchant Bankers Limited are the book running lead managers to the issue. BEETAL Financial & Computer Services Private Limited is the registrar.
