SIS Debuts At 8% Premium To Issue Price
SIS listed at a 8 percent premium, more or less in-line with market expectations.
Shares of Securities and Intelligence Services (India) Ltd. made its stock market debut at Rs 879.8 apiece, a premium of 8 percent to its issue price on the National Stock Exchange. The stock opened at Rs 875 on the Bombay Stock Exchange, in line with a BloombergQuint poll of market dealers.
SIS offered close to 95.7 lakh shares at Rs 815 apiece in the Rs 780-crore IPO. Of the total issue size, SIS raised close to Rs 363 crore from the fresh issue and the rest was an offer for sale by investors.
The IPO received bids for 3,62,34,756 shares against the total issue size of 53,16,187 shares, according to the NSE data. The portion set aside for qualified institutional buyers was subscribed 5.72 times while that for non-institutional investors was subscribed 1.67 times. The shares set aside for retail investors was subscribed 18.21 times.
The security and facility management service provider will use more than 70 percent of the proceeds to repay debt and working capital requirement, according to its IPO prospectus.
Also Read: SIS Lists Today: Here’s All You Need To Know
