SIS IPO Gets Subscribed Seven Times On Final Day
The initial public offer of Security and Intelligence Services (India) Ltd. was subscribed seven times on the third and final day of bidding.
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 as of 5 p.m.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 5.72 times while that for non-institutional investors (NIBs) was subscribed 1.67 times. The shares set aside for retail investors was subscribed 18.21 times.
SIS expects to raise up to Rs 780 crore from the IPO, a part of which will go towards their debt repayment.
The price band for the IPO is Rs 805-815 per share, scheduled to close today.
The IPO comprises fresh issue of equity shares valuing up to Rs 362.25 crore and an offer for sale of up to 5,120,619 equity shares to be diluted by investors and promoters.
The company provides security solutions and business support services to a wide range of customers across India and Australia.
Axis Capital Limited, ICICI Securities Ltd., IIFL Holdings Ltd. are the global coordinators of the bid. Kotak Mahindra Capital Company Ltd. and SBI Capital Markets Ltd. are the book running lead managers to the offer.
(With inputs from PTI)
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