SRS Limited (BSE:533569) has put its multiplex business up for sale. SRS has appointed SBI Capital Markets Limited to sell off the asset, in order to pare the its debt. Also State Bank of India is lead lender for SRS. Jitin Sadana, Vice President of Strategy & Planning in SRS Group, said, "Jewellery is our core business, which contributes to almost 90% of the group’s income. There have been strikes, which affected the business, followed by the slump. This resulted in delaying our debt repayment. We had two options, either to delay more, or sell of some assets and pare the debt. So, we suggested our lead banker to sell of the multiplex assets." SBI Capital will be opening the technical bids for SRS Cinemas, following which negotiations on financial bidding will take place. All the major players are expected to take part in the bidding.