Receives bids for 3.63 crore shares
The initial public offer (IPO) of Security and Intelligence Services (India) (SIS) received bids for a total of 3.63 crore shares on the last day of bidding today, 2 August 2017, compared with 53.16 lakh shares on offer, data on the National Stock Exchange of India (NSE) website showed as at 17:15 IST. The IPO was subscribed 6.84 times.
The IPO comprises fresh issue of shares aggregating upto Rs 362.25 crore and an offer for sale (OFS) of up to 51.2 lakh shares by the selling shareholders. The IPO price band has been fixed at Rs 805-815 per share.
Ahead of the opening of the IPO, the IPO Committee of the board of directors of the company at its meeting held on Friday, 28 July 2017, finalized allocation of 43.04 lakh equity shares in aggregate, to anchor investors at a price of Rs 815 per share. Anchor investors include Abu Dhabi Investment Authority - Behave, Reliance Capital Trustee Co, Birla Sun Life Trustee Company, Amundi Funds Equity India, Sundaram Mutual Fund amongst others.
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.
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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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