/ SRS Acquires Stakes In SRS Bright Retail ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Saturday, 1 July 2017

SRS Ltd on Friday has decided to acquire the entire paid-up equity share capital of SRS Bright Retail Limited’s, 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 company's board has approved the acquisition.

The objective of the move is to achieve operational efficiency, better control and specialised management. SRS Bright Retail Limited has accounting softwares which have inherent value and are needed by the company.

The time period for completion of the acquisition is on or before 31st July 2017.

SRS Limited is a holding company. The company covers sectors, including gold and jewellery, cinemas, retail, and food and beverages, among others. The company’s segments include cinemas, retail, gold & jewellery, and corporate and others.

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