SRS Ltd obtains Sebi nod for its IPO

SRS Ltd, a company into cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery, today said that it has obtained Sebi approval for its initial public offering (IPO).

The company is now in the process of filing its red herring prospectus (RHP), it said in a press release issued here.

SRS Ltd will issue 35,000,000 equity shares of Rs10 each, constituting 25.13% of the post-issue share capital of the company.

The objective of the issue is to raise funds for setting up of cinemas, food courts and restaurants. The company also plans to set-up retail stores, jewellery manufacturing facility and jewellery retail stores, the release said.