Inox Leisure Limited (BSE:532706) has emerged as the highest bidder for SRS Cinemas & Entertainment Limited, two people aware of the development said on condition of anonymity. Inox has offered close to INR 2.3 billion for SRS Cinemas, one of the two people cited above said. SRS Limited (BSE:533569) is selling SRS Cinemas to reduce debt and has hired SBI Capital Markets Limited to manage the sale. Emails sent to Inox, SRS and SBI Capital remained unanswered till the time of going to press.