Mumbai: The initial public offer of SRS , a company into cinema exhibition, food and retail, was subscribed 0.50 times on the second day of issue today. The company's IPO received bids worth 1.76 crore shares till 1500 hrs on the second day, as against 3.5 crore shares on offer, as per the data available on the National Stock Exchange. SRS entered the capital markets with an IPO price band of 58-65 per equity share. The issue, which opened for subscription yesterday, will close on August 26. The company aims to raise 225 crore through the sale of a 25.13 percent stake under the IPO. The proceeds from the public issue will be utilised by SRS to set up cinemas, food courts, restaurants, retail stores, (and a) jewellery manufacturing facility. 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. Karvy Investor Services, IDBI Capital Market Services and SPA Merchant Bankers are the book running lead managers for the issue.