SRS, for future expansion of its cinema business, has decided to make 'SRS Talkies’ a group company, as its wholly owned subsidiary by acquiring its entire paid-up shares i.e. 50,000 Equity shares of Rs 10 each at par.
Also the company, for future expansion of its retail business has decided to make 'SRS e-Retail' a Group Company, as its wholly owned subsidiary by acquiring its entire paid-up shares i.e. 50,000 equity shares of Rs 10 each at par. The company’s board of directors at their meeting held on December 3 decided upon this matter.
The company has decided to make these wholly-owned subsidiaries for future expansion of cinema & retail business to improve operational efficiency, better control and specialized management in these verticals. It is expected to complete these acquisitions in next seven days.
SRS is a diversified company with a business portfolio comprising of cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery. It sells a wide range of gold and diamond jewellery under the brand name of SRS Jewells.
