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Aug 09, 2017 11:35 AM IST | Source: Moneycontrol.com

Security and Intelligence Services to make a debut on bourses on August 10

The Rs 780-crore public issue, which was opened for subscription between July 31 and August 2, was oversubscribed 7 times.

Security and Intelligence Services to make a debut on bourses on August 10

Moneycontrol News

Security and Intelligence Services (India) is set to list its equity shares on exchanges on Thursday, August 10. The issue price is fixed at higher end of price band of Rs 805-815 per share.

The Rs 780-crore public issue, which was opened for subscription between July 31 and August 2, was oversubscribed 7 times.

The reserved category for qualified institutional buyers was oversubscribed 5.64 times while non institutional investors’ portion has seen 1.66 times subscription and retail investors 19.51 times.

The initial public offering comprised of fresh issue of equity shares of up to Rs 362.25 crore and an offer for sale of up to 51.2 lakh equity shares to be diluted by investors and promoters.

The funds raised through fresh issue would be used for repayment & pre-payment of a portion of certain outstanding indebtedness availed by company (about Rs 200 crore); funding working capital requirements (Rs 60 crore); and general corporate purposes.

The Security and Intelligence Services provides security services both in India and Australia with diverse solutions across the security spectrum. The portfolio of services includes security design and solutions, fire safety, event security, VIP protection, aviation security, emergency response, investigation work and integrated technology solutions providing man-tech solutions.
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