 "SIS up over 2% as board to consider fundraising via debt issue on Nov 25")
SIS stock price: Shares of private security firm SIS soared up to 2.36 per cent to hit an intraday high of Rs 388.95 per share on Thursday, November 21, 2024.
The uptick in share price of SIS came after the company announced that its Board of Directors will meet on Monday, November 25, 2024, to consider, inter-alia, the proposal for fund raising by debt issue in the form of debentures, subject to requisite approvals.
In an exchange filing, SIS said, “We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, November 25, 2024, to consider, inter-alia, the proposal for fund raising by debt issue in the form of debentures, subject to requisite approvals.”
A debt issue is a financial obligation in which the issuer raises capital by agreeing to repay the lender at a specified future date, according to the terms outlined in the contract.
SIS Group Enterprise, formerly known as Security and Intelligence Services (India), is a leading multinational security company offering a wide range of services across India, Australia, New Zealand, and Singapore.
The company provides comprehensive security solutions, including specialised guarding, e-surveillance, system integration, alarm monitoring, and response services. Additionally, SIS is a key player in facility management, ranking as the second largest company of its kind in India. The company also offers cash logistics services, further expanding its operational scope.
Founded in 1985 by Ravindra Kishore Sinha, SIS has grown to operate in 28 Indian states and 8 Union Territories, alongside its international presence in Australia, New Zealand, and Singapore.
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The company boasts the largest command centre in India, managing over 500,000 sites.
SIS is also a pioneer in biometric authentication, offering advanced technologies such as fingerprint scanners, palm thermo-sensors, facial recognition, and iris recognition.
The market capitalisation of SIS is Rs 5,447.75 , according to BSE. The company falls under the BSE SmallCap category.
At 9:32 AM, shares of SIS were off highs and in the negative territory. The SIS scrip was trading 0.50 per cent lower at Rs 378.05 per share. In comparison, BSE Sensex was trading 0.67 per cent lower at 77,058.23 levels.