SRS has received an approval to acquire the entire paid-up equity share capital of 'SRS Bright Retail’, a Group company comprising of 1,00,00,000 equity shares of Rs 10 each at 10 paise to make it a Wholly Owned Subsidiary of the company. The board of directors at their meeting held on June 30, 2017, has approved for the same.
Further, the company has wider experience of running Retail Vertical and by making SRS Bright Retail, a wholly owned subsidiary would increase the operational efficiency, better control and specialized management in the business. Hence, it is considered prudent to acquire 100% Shareholding of SRS Bright Retail.
SRS Group, which has diversified interests in sectors including jewellery, commodities, retail, hospitality, financial services, real estate, education and healthcare, has seen a major slump in its core business.
Company Name | CMP |
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Avenue Supermarts | 4501.00 |
Trent | 4675.60 |
Aditya Birla Fashion | 295.70 |
Future Retail | 2.20 |
Electronics Mart Ind | 201.85 |
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