SRS Limited is entering into primary market with an Initial Public Offering (IPO) of 35,000,000 Equity Shares of Rs 10 each. The IPO is opening on 23rd August 2011 and the shares will be available for subscription up to 26th August 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has not been fixed yet. The company is likely to raise around Rs – Crore through the issue at the upper level of price band. SRS Limited is a diversified company with interests in Cinema Exhibition, Food & Beverages, Retail and Manufacturing & Retailing of Jewellery operations.
The proceeds of the IPO are proposed to be utilized 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, general corporate purposes and issue related expenses.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : 23rd Aug 2011 – 26th Aug 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : 35,000,000 Equity Shares of Rs 10 each
IPO Size : Rs 203.00 – 227.50 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs 58 – Rs. 65 Per Equity Share
Minimum Bid Quantity : Shares (Rs. with 1 Lot) @ upper level of price band
Maximum Bid Quantity : Shares (Rs. with Lots ) @ upper level of price band
Listing At : BSE, NSE
The Book running lead manager (BRLM) to the issue are IDBI Capital Market Services Limited, Karvy Investor Services Limited and Spa Merchant Bankers Limited.
Registrar of the Issue : Beetal Financial & Computer Services (P) Limited New Delhi.
Stay tuned to BelltheBull Blog for more on SRS Limited IPO !Google+