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Aug 01, 2017 08:49 PM IST | Source: PTI

Security and Intelligence IPO oversubscribed 1.93 times

The initial share sale offer of Security and Intelligence Services (India) Limited (SIS) was oversubscribed 1.93 times on the second day of bidding.

Security and Intelligence IPO oversubscribed 1.93 times

The initial share sale offer of Security and Intelligence Services (India) Limited (SIS) was oversubscribed 1.93 times on the second day of bidding.

The IPO received bids for 1,02,71,682 shares against the total issue size of 53,16,187 shares, NSE's data showed.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 1.12 times and non institutional investors 9 percent.

Retail investors was also oversubscribed 7.14 times.

SIS expects to raise up to Rs 780 crore from the IPO, a part of which will go towards debt repayment.

The company has set Rs 805-815 per share as the price band for the initial public offer (IPO) which is scheduled to close tomorrow.

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 Limited, IIFL Holdings Limited and Kotak Mahindra Capital Company Limited are the global coordinators and book running lead managers to the offer.
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