SENSEX   34273.03    -27.44  (-0.08%)      SENSEX   31697.13    50.67  (0.16%)      |  Gold   30705.00    -176.00  (-0.57%)    |  Silver  38856.00   -221.00 (-0.57%)

Latest News:

Security and Intelligence Services’ IPO to open on Monday. Should you subscribe?


Mumbai: The latest addition to companies hitting the primary market is Security and Intelligence Services (SIS) India.

The company’s initial public offering (IPO) will open on July 31, 2017 and close on August 2, 2017. At a price band of Rs 805-815 apiece, the funds raised will be used for repayment and pre-payment of a portion of outstanding debt, its CEO Dhiraj Singh told the press earlier this week. Additionally, it will also be used for other corporate purposes. It has a debt of around Rs 360 crore.

The IPO comprises fresh issue of shares worth Rs 362.25 crore and an offer for sale of up to 51,20,619 shares by existing shareholders.

Axis Capital, ICICI Securities, IIFL Holdings, Kotak Mahindra Capital Company were global coordinators and book running lead managers, while SBI Capital Markets, IDBI Capital Markets are merchant bankers to the issue.

Brokerages have largely highlighted the strong business model of the company along with presence in the organised sector in this space. Further, they said that the company will be able to leverage their leadership positions across several segments of security solutions. Among risks, they saw threats from litigations, political developments along with operational risks.

Comments (0)

No comments yet.

Leave a comment


No trackbacks yet.