SIS India Debuts with 5% Gains at Rs 855

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indian share market tipsSecurity & Intelligence Services (SIS India) opened its debut trade at Rs 855 on the NSE, up 4.9% over its issue price of Rs 815. Since the issue clocked a subscription of 7 times, which projects the listing is in the expected lines.

In the pre-opening, SIS India stock settled at Rs 879.80, higher by 8% from its issue price. The company has raised Rs 780 crore through IPO that was opened for subscription between July 31 – August 2 with the price band for the issue at Rs 805 to Rs. 815 share apiece. The IPO consisted of fresh issue of equity shares of up to Rs 362.25 crore and an OFS of up to 51.2 lakh shares intended to be diluted by investors/promoters.

The SIS India provides security services across India and Australia in diverse platform.


India Grid Trust’s IPO opens today – Price band set at Rs. 98 to 100 / share

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India Grid, IPO, Infrastructure Investment, Power Grid, India Grid Trust, an infrastructure investment trust (InvIT) to raise Rs. 2250 Crore Initial Public Offering (IPO), which will open for bidding from Wednesday, 17 May 2017 and will close on 19 May.

The IPO commands a price band of Rs. 98 -100 per unit. India Grid Trust is established to own inter-state power transmission assets in India. Sterlite Investment Managers and Sterlite Power Grid Ventures are the investment manager and sponsor, respectively of InvIT.

Bids can be made for a minimum of 10,206 units and in multiples of 5,103 units later on, which are proposed to be enlisted on the BSE and the NSE platform. Citigroup Global Markets India, Morgan Stanley India and Edelweiss Financial Services are the lead managers to the IPO.