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SRS sets IPO price band at Rs 58-65/share
SRS, a diversified company having businesses like cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery, has fixed issue price at Rs 58-65 a share for its initial public offering (IPO) of 3.5 crore equity shares.
SRS has fixed its issue price at Rs 58-65 a share for its initial public offering (IPO) of 3.5 crore equity shares. It is a diversified company having businesses like cinema exhibition, food and beverages, retail and manufacturing and jewellery retail.
The issue, which constitutes 25.13% of the post-issue share capital, will open for subscription between August 23-26, 2011.
Bids can be made for a minimum of 100 equity shares and in multiples of 100 shares thereafter.
The company aims to raise Rs 227.5 crore through the issue at higher end of price band. It intends to use these proceeds for setting up cinemas, food courts and restaurants, retail stores and jewellery manufacturing facility.
The company 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.
