IPO price band fixed at Rs 805-815 per share
Security and Intelligence Services (India) is coming up with an initial public offer (IPO) comprising fresh issue of shares aggregating upto Rs 362.25 crore and an offer for sale of up to 51.2 lakh shares by the selling shareholders. The IPO opens on 31 July and closes on 2 August 2017. The IPO price band is fixed at Rs 805-815 per share.
The company intends to utilize the proceeds from the issue towards repayment & pre-payment of outstanding loans, funding working capital requirements and general corporate purposes.
Security and Intelligence Services (India)'s consolidated net profit rose 20.53% to Rs 91.28 crore on 19.05% growth in net sales to Rs 4567.09 crore in FY 2017 over FY 2016.
Security and Intelligence Services (India), promoted by Ravindra Kishore Sinha and Rituraj Kishore Sinha, is a leading provider of private security and facility management services in India.
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