SRS Ltd IPO to open on 23rd August

The company is expecting to raise Rs225 crore to fund expansion across business segments

SRS Ltd, a company into cinema exhibition, food and retail, said today that it is set to tap the capital market with a public issue of 3.5 crore shares of Rs10 face value each on 23rd August.

The company aims to raise Rs225 crore through the sale of a 25.13% stake under the IPO (initial public offering).

"Through this public issue, SRS will raise funds to set up cinemas, food courts, restaurants, retail stores, (and a) jewellery-manufacturing facility," the company said in a statement.

ICRA has assigned 'IPO Grade 3' rating to the offer, which indicates 'average fundamentals', the statement said.

"With the IPO, we wish to raise Rs225 crore to fund expansion across business segments," SRS Ltd CMD Anil Jindal had earlier said.

The company plans to add 54 new cinema screens, 33 new food courts, 29 retail stores and 17 jewellery stores to its existing network.

At present, the firm operates 23 SRS 'Value Bazaar' retail stores, 15 food courts and 30 cinema screens in north India. The company also operates five jewellery retail and wholesale outlets and a jewellery manufacturing unit in Delhi.

SRS is focused on establishing a presence across business verticals in tier-II and tier-III cities and towns across the country. For the fiscal year ended 31 March 2011, the company's total turnover was Rs2,042 crore.

User

The Admatrix ‘Watch and Earn’ scheme: Real or just another fraud?

MLM or chain marketers find newer methods to lure people. The latest ‘watch-advertisments-and-earn-money’ offer by AdMatrix is nothing but more money swindling in yet another avtar

Like the pyramid schemes which lure people with the promise of 'earning easy money', Admatrix, a Holland-based business entity, is offering extraordinary returns just to watch advertisements. The 'Watch-and-Earn' scheme was launched in India in October 2010. Admatrix provides AdStations that enable consumers to watch advertisements and get paid for this in return. The motto of the company itself is "Watch ads and get paid for it!"

To start with, a person pays Rs15,000 to register with Admatrix, in order to get access to the AdStation, to view advertisements for a period of one year. If one gets Rs1,000 a week to watch the ads, it would take about four months to recover the registration amount.

The registered person is then paid Rs1,000 to view ads for just 15 minutes every week. The payments for watching the ads are directly transferred into the bank account of the consumer 30 days after reporting that the ad has been viewed. The company also offers consumers an extra Rs1,000 for every two new people (or a binary pair) introduced to the scheme. So earning big money, which the company offers, is not possible merely by viewing the ads and will depend a lot on luring other customers.

In fact, Admatrix website for India says, "The maximum capping per day at the moment is set at Rs7.9 lakh per day, which works out to be in excess of Rs2.35 crore per month," which is an incredibly high amount to achieve. Of course, pocketing such earnings would require one to introduce hundreds of other Admatrix referrals, and for them to introduce many more in turn under a binary scheme.

The key to actually making money through this system would be to introduce more people to the scheme and get them to also introduce more people into the pyramid. Here again, only early entrants to a pyramid usually ever make money, and they too are usually re-invested when the schemes go bust.

Is Admatrix connected to Speak Asia?
According to some posts on the internet, Admatrix may be related to Speak Asia, the survey company whose officials were arrested by the Economic Offences Wing of the Mumbai police last week. A writer on 'www.behindmlm.com' has quoted a newspaper report that says, "The money trail of Rs600 crore that was allegedly transferred by the founders of the Speak Asia multi-level marketing scheme, to a Singapore bank in the past 12 months, has at least one account in the name of an alleged Holland-based advertisement ponzi scheme operator; which indicates that the operation may have been on a global scale."

The writer says, "Wondering why they hadn't just named the 'Holland-based advertisement ponzi scheme', my mind immediately flashed back to a review I did back in July on AdMatrix." The writer tries to strengthen the case of a connection between the two companies citing a report in The Deccan Chronicle that said, "CID sleuths said that they were investigating another company, Ad Matrix, the office of which is in the same building as that of Speak Asia."

The collapsible 'binary'
The FAQs section on the Admatrix website mentions how "previous ads will keep on accumulating till 30 days and then they will vanish." It says that there should be a minimum 48 hours gap between similar ads. Thus, a person who carries forward watching his ads to the last week might have to skip a few and may not be paid the entire sum of Rs1,000. This would likely reduce the pay to individuals as the binary would not have completed the required number of viewings of ads.

This, and the fact that earning more money is directly dependent on the number of people that are introduced to the scheme, show the unsustainable nature of the Admatrix system, which like many other pyramid schemes might cheat people of their money at the lower binary levels.

User

COMMENTS

Raman Kumar

7 months ago

not piad thi

Raman Kumar

7 months ago

not piad thi

Curious

5 years ago

I need more information about what happened to Admatrix in India, because there is an identical service being offered here in Brazil(only the name is different), but I'm not sure if it's a good idea to invest in this kind of service. Can anyone help me about it?

Bina Gupta

5 years ago

Our nonexistent President Pratibha Patil gets a 6 crore merc, when nobody would want to waste a bullet on her. I had even forgotten that we have a president, but you do remember Dr. Kalam even though he is no more a president, what a shame that we are being represented by a woman like her at the international level, downgrading the image of indian women.

Bina Gupta

5 years ago

By the way Mr. Shyam Sunder the saviour of mankind, there are lot of complaints against NMart, how come you are not gunning for it.

Bina Gupta

5 years ago


How come Mr. Shyam Sunder you missed NMart MLM, which is operating under your very nose, which was facing tough competition from Amway and Speakasia. Then the share market should also be banned due to its unpredictable nature, people lose millions in that, one should even ban airline and car industries because many lose lives in accidents, as you are trying to save mankind from disaster. Don't decide for people I think all human beings are intelligent enough and smart enough to know what they want to do with their money and life. Stop playing God we have enough already

Ramesh

5 years ago

Dont join Admatrix ,like other MLM companies around ,they are also playing with our money .
the best way to earn money is belief in yourself ,and have positive attitude

Bina Gupta

5 years ago

Khushwant Singh once wrote that when Rama chander ji was going for Vanvas, his praja went to see him off, rest of the people came back but Eunuchs followed him for a long distance, then Rama chander ji turned around and said I am really impressed by your loyalty, ask and you shall receive and they asked for a piece of land which is called India today, so that is what we are.

Bina Gupta

5 years ago

I have also spoken to the members of Nmart who told me that It is run by the President of India's nephew, anyways I really don't know what that woman is ding in Rashtrapati Bhawan, I had even forgotten that we have a president, she will look good with sabzi ki tokri in her hand, She is the most unimpressive President we ever had, what surprises me most is that the youngsters today have no opinion.Their indifference says a lot about our system.

Bina Gupta

5 years ago

It is sad that a bunch of close minded freaks have taken it upon themselves to prosecute people who are in to MLM. Funnily they have targeted two such companies which are giving tough compitition to NMart which is also in MLM business as Speakasia and Amway, and is very active in Andhra, Maharashtra, operating out of Mumbai. Goa, Gujrat and some other south states, no wonder the complaints have been registered from these very states, I wish these random NGOs like corporate fraud watch should first check their own integrity before raising a finger on others, they seem to be the stooges of Nmart MLM which incidently doing mall multi level marketing, where they build malls make members who buy shops in malls, which is being done openly in Hyderabad, Orissa, Gujrat and other states, how come their eagle eyes missed this big fish, so that puts a big question mark on Corporate Fraud Watch NGO's reliability, integrity. The man running this MLM is none other than President Pratibha Patil's nephew, so this raises a question, does this woman deserve to be the President of India who doesn't know what is going on in her own backyard. Sad isn't it ? there are so many complaints filed by people who he has duped but no action taken so far. So that means to operate in this country you have to be somebody high up or know somebody up there. which is where I think Amway and Speakasia lacked, if they too had President Pratibha Patil for n aunt this would not have happened to them

REPLY

Bin Tere Hum

In Reply to Bina Gupta 5 years ago

Bina...tere bina...Kya khub dimaag paya hai aapne. Read this before writing against the President...
"In some places, Mr Shekhawat is also referred to as being the nephew of the President of India, Pratibhai Patil, but this information is false. According to an email from the President's office, although both her nephew and the promoter of NMart share same name, they are not same person and Gopal Shekhawat, the nephew of Smt Pratibhatai Patil is no where related with NMart. The email says,"Shri Gopal Shekhawat, nephew of the President is in Chandrapur near Nagpur. He is a School Teacher and nothing to do with "N Mart". Only the names are similar."
Read the complete story about NMart here..http://moneylife.in/article/nmart-runs-cis-based-mlm-under-guise-of-a-retail-chain/18593.html?dhiti=1

Bina Gupta

In Reply to Bin Tere Hum 5 years ago

Raja is also claiming to be innocent, Kanimozi is also claiming to be innocent so is Narendra Modi, Every bloody politician, bureaucrat, Govt machinery is innocent in this country, except for aam aadmi, I have been given the right of expression by the constitution, but that is only in theory, if anyone opens their mouth they are shut by the same machinery example Bhatt in Gujrat, Never have I felt so impotent in my life as feel today, that I am seeing so much injustice around me and I stand mute, we have changed the meaning of Gandhi ji's three monkeys, achcha mat dekho, achcha mat suno, achcha mat bolo, because you will be implicated in a false case and put behind bars. our people fought against the britishers for nothing, all their effort has gone waste. In this country today every criminal is innocent and every innocent declared a criminal, it takes me 8 months and five visits to get my passport, everytime I went there I was told my papers were not there in the file, each time I provided them with my papers, I stood there like a criminal with folded hands begging them to do something, because I dare to stand against the system. what is easy money, not what you get while working for MLMs but what is lying in swiss banks, what Babus take under the table by delaying your file. Extortions, implicating people in false cases and then demanding money to let them go, I am not a woman born yesterday, I am a 55 years old and have seen this country's deterioration.

Bina Gupta

In Reply to Bin Tere Hum 5 years ago

I am not stupid to write something like this without first finding out, so save your breathe, I had posted to media too with proof. Ru also one of his agents ?
State:
Andhra Pradesh

Country:
India

Profile:



MLM Experience:

Current Company:
NMART RETAILS

Company Website:
http://www.nmart.co.in

Company experience:

About Me
WONDERFUL OPPORTUNITY AWAITS YOU. The Company, “NMART RETAILS”, headed by Shri GOPAL SHEKHAWAT, nephew of the PRESIDENT OF INDIA, has introduced first ever Network plan with a retail concept. It is a known fact that several companies have come in the Network Business but till date there has been no such plan which involves retail stores. With a team of experts, the company has come up with a lucrative plan that gives immense benefit to its associates to help grow with the company hand in hand. The Company already has Super Shopping Malls, selling over 5000 branded daily provisions products (which need no convincing or promoting), in the states of Gujarat, Maharashtra, Madhya Pradesh etc. Many Shopping Malls are now shortly coming up in the state of Andhra Pradesh. A minimum of 15 malls are planned for Hyderabad City itself. Only known and reliable are given PRIORITY. For more details, please visit http://www.nmart.co.in.


vishu

5 years ago

hey admatrix is just fraud i lost my all money..
they just deleted all contact details and info of india.. and even all ads are now not coming and no money is redeemed to me...
just a fake company.
advice to people never ever get into the trap of these easy paying jobs even these are suggested by your own relatives...
they are more assholes than those companies.

fuck u admatrix team...

Govindan

5 years ago

Upright and honest lawyers of Vijayawada, Andhra Pradesh writes to the Editor, The New India Express

MAILBAG
(THE NEW INDIAN EXPRESS, August 11, 2011)

This is what they had to say:

MONEY SCHEMES

The article ‘Kerala is now fraud’s own country’ (NIE, Aug 4) shows the real picture of almost all the states in the country. Cheats have been deceiving our people lining their pockets with the hard-earned money. It is high time the media initiated action against such crooks in a big way.

Good that the Police have launched a drive against money circulation schemes. We, the advocates of Corporate Frauds Watch, Vijayawada, appreciate your work.

SHYAM SUNDAR,
Vijayawada.

Thank You Shri. Shyam Sundar.
Thank you New Indian Express
Thank you Moneylife.


http://expressbuzz.com/opinion/op-ed/ker...

REPLY

Bina Gupta

In Reply to Govindan 5 years ago

Upright and honest lawyers of Vijayawada !!!!!!! thats the joke of the year, ha ! ha ! ha ! that to Shyam Sunder !!!! you got to be joking. how come he is not raising his voice against NMart ?????? that is also money making scheme.

Bina Gupta

In Reply to Govindan 5 years ago

How come Mr. Shyam Sunder you missed NMart MLM, which is operating under your very nose, which was facing tough competition from Amway and Speakasia. Then the share market should also be banned due to its unpredictable nature, people lose millions in that, one should even ban airline and car industries because many lose lives in accidents, as you are trying to save mankind from disaster. Don't decide for people I think all human beings are intelligent enough and smart enough to know what they want to do with their money and life. Stop playing God we have enough already.

Kishore N

5 years ago

MLM FRAUD

Frauds own country: MADHYAMAM DAILY (Malayalam)dated 10 August 2011
This article refers Tulip Mania that happened in Amsterdam in the year 1634.

Tulip mania

http://en.wikipedia.org/wiki/Tulip_mania

Great article. Read:
http://www.madhyamam.com/news/107884/110...


Amway raid latest:

Amway Service Partner, Deepak L. Aswani, and distributor Sajeev Nair applied for anticipatory bail. The Principal Session Court, Ernakulam will decide on the bail application on august 12, 2011.

http://www.manoramaonline.com/cgi-bin/MM...

Govindan

5 years ago

Mr. Sajjanar, we are PROUD of you.

Mr. Sajjanar IPS, an honest Police officer of Andhra Pradesh has written a letter to the editor (Mail Bag) of the New Indian Express (10.08.2011)

This is what he had to say:

THE FRAUDSTERS

The article titled 'Kerala is now frauds own country' (NIE, Aug4) has excellently covered the cheating done by MLM companies. It is not only in Kerala this fraud is noticed but actually it has engulfed the entire country. Rough estimates say more than a lakh crore rupees has been cheated by these fraudsters. It is very heartening to note that the Kerala police have taken the lead in cracking theses fly-by-night operators. I have done a detailed study on these MLM frauds.

V.C. SAJJANAR, DIG
Hyderabad

Mr. Sajjanar, we are Proud of you. You are an asset to the nation.

Please read the following Press release of Andhra Police. It was prepared by Mr. Sajjanar.
http://www.cidap.gov.in/documents/MLM%20...

Kerala is now Frauds’ Own Country

http://expressbuzz.com/opinion/op-ed/ker...

Kishore N

5 years ago

Nano Excel fraud

Former Finance Minister of Kerala, Dr. Thomas Isaac, helped bribe case accuse. Mr. Jayananda Kumar, then Asst. Commissioner ,commercial Taxes had allegedly accepted 1.5 crore rupees from Nano Excel as bribe. The Vigilance during that time conducted a probe as they received some complaints. But the FM interfered and asked the Vigilance DySP to stop the probe.

http://www.manoramanews.com/cgi-bin/MMOn...

REPLY

Kris

In Reply to Kishore N 5 years ago

Arrest of Sales Tax AC: cops seek govt. nod

Nano Excel Director Patrick Thomas, who was arrested, told the police on July 15th that Sales Tax Assistant Commissioner, Jayanandakumar pocketed a bribe of Rs 1.5 crore to suppress the case and restored all the frozen accounts of the company

http://english.manoramaonline.com/cgi-bi...

Stock crash: SEBI closely monitoring the situation

"There is nothing for the people to worry. Our risk management system is working perfectly and all the settlements are taking place," SEBI chairman UK Sinha said, while dismissing any suggestion about any adverse impact of the panic situation among investors

Mumbai: Amid a sharp plunge in the stock market to its lowest level in over a year, the Securities and Exchange Board of India (SEBI) today said it was closely watching the situation which it attributed to global developments and assured the system was well-regulated, reports PTI.

"We are closely watching the situation and our belief is that everything is perfect and right in markets," SEBI chairman UK Sinha told reporters.

He was replying to queries related to today's crash in stock market, where benchmark Sensex plunged by over 700 points or about 4% to slip below the 17,000 level for the first time since June 2010.

"There is nothing for the people to worry. Our risk management system is working perfectly and all the settlements are taking place," Mr Sinha said, while dismissing any suggestion about any adverse impact of the panic situation among investors.

Earlier, concerns have been raised that panic in world markets could lead to a possible flash-crash or collapse like situation on Indian bourses in the absence of a robust risk management system.

"These are matters about how you perceive the markets and the cues that you get from global developments. So, I will like to tell you that our markets and our regulatory system are perfectly on track," he said.

Earlier in the day, economic affairs secretary R Gopalan attributed today's fall in markets to panic-like situation among investors due to negative news flow about the US economy.

The US markets crashed sharply yesterday, triggering a sharp plunge in Asian and European markets today.

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