BWI: SRS Launches Fixed Deposit Schemes

Press release from Business Wire India
Source: SRS Limited
Monday, April 08, 2013 02:17 PM IST (08:47 AM GMT)
Editors: General: Consumer interest, Entertainment, People; Business: Banking & financial services, Business services, Major diversified industrial groups
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SRS Launches Fixed Deposit Schemes


New Delhi, Delhi, India, Monday, April 08, 2013 -- (Business Wire India) -- SRS group, one of North India's leading diversified group having interest in real estate, cinemas, jewellery, retail and hospitality, launched a Fixed Deposit (FD) Scheme that pays an annualized yield of maximum of 15.07% over three years.

The minimum investment has been fixed at Rs 20,000 with interest being compounded monthly and payable quarterly in non-cumulative scheme and payable on maturity in cumulative scheme. An additional amount in multiples of Rs 1000 is allowed under the scheme. The maximum tenure under both the schemes is three years. Under the scheme, the company is paying an annual interest of 12% for one year, 12.25% for a period of 2 years and 12.50% for a period of 3 years.

Commenting on the development, SRS Group Chairman Dr. Anil Jindal said: "this is the second FD scheme launched by the SRS Group - the first one was launched by our BSE-listed group company SRS Real Infrastructure Limited in April 2012 and proved to be highly successful. And now, SRS limited is launching its FD scheme with a host of flexible options: the investment period ranges from 1 to 3 years, with both cumulative and non-cumulative options, offering a yield of upto 15.07%. The funds raised under this scheme shall be used to fuel further expansions of the company's business verticals and will also be used for working capital requirements.

About SRS Limited

SRS Limited is multi-domain company and a part of the RS 3500 crore SRS Group whose founding steps were laid in 1985, and its core businesses span gold & jewellery, film exhibition, retail and Hospitality. SRS Limited closed FY 2011-12 with a turnover of Rs 2270 crores, and in the first three quarters of FY 2012-13, clocked a turnover of Rs 1761 crores.

It was incorporated in the year 2000, became a listed company in 2011 when its Rs 203 crore IPO was over-subscribed in spite of challenging market conditions. The scrip is listed on the BSE and the NSE, with a market cap of over Rs 600 crores. The Company operates:

-- 33 screens under SRS Cinemas

-- 23 retail outlets branded SRS Value Bazaar and SRS Fashion Wear

-- 6 jewellery retail outlets called SRS Jewells, 4 jewellery wholesale outlets and one jewellery manufacturing unit at Noida SEZ, and

-- 15 f&b outlets under the umbrella of SRS 7dayz

In addition to this, it also operates a plush 4-Star hotel in Haridwar.

These interlinked businesses allows the company sizeable advantages in terms of business synergy across areas such as marketing and branding, rentals, consumer acquisition as well as creates multiple growth engines for the company, acting both as business stabilizers and growth maximizers.



CONTACT DETAILS
Manoj Kumar, Clout Communications, +91 9811135420, manoj@cloutcomm.in

KEYWORDS
CONSUMER, ENTERTAINMENT, PEOPLE, BANKING, BUSINESS SERVICES, GROUPS

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