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Security & 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.
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