SRS in talks to sell cinema business

NEW DELHI: Facing " liquidity issues", diversified company SRS Ltd today said it is in talks with multiplex operators including INOX and private equity players to sell its cinema business.

"Due to liquidity issues, the company had decided to sell the 'Cinemas' and 'Retail' divisions of the company," SRS Ltd said in a regulatory filing.

"The Expression of Interest (EOI) for cinema division has been received by few players of the cinema exhibition business and private equity, including INOX, however, financial bids are yet to be received," it said.

SRS Cinemas operates over 50 screens in over 15 cities in the country.

SRS Ltd stock was trading nearly 20 per cent up at Rs 6.33 in the afternoon trade on BSE.