Srs Group Plan To Raise Ipo

SRS Group (An faridabad based company) is ready to lift up Rs 500 crore through an IPO to fund their programme of 1000 crore.The Chairman or SRS Group said that they were thinking that to raise an ipo worth rs 500 to add funds for their programme and the remaining 500 crore would be raised by other methods or means.He said “We are hoping to mobilize Rs 500 crore from our public issue(IPO) which would be launched by the end of this financial year 2008.”

The company has not decided on the dilution of stake that is which promoter stock will be diluted.The were also looking at other options to fund their project which include everything.The had announced that they were ready to invest Rs 1000 crore in next three years on retail,food,entertainment and beverage segment.

The want to increase their number retail outlets known as “Value Bazaar” .the chairman said, “By the end of this year, the company is looking to touch the turnover of Rs 1000 crore from Rs 700 crore in 2007-08.”