SIS India files draft prospectus for IPO

Security and Intelligence Services India (SIS India) has filed draft prospectus for its upcoming IPO with the Indian capital market regulator Securities Exchange Board of India (SEBI). The company established in 1974, has nationwide presence in India and Australia. Apart from security services, SIS India offers cash logistics services, facilities management, pest control and electronic security.

The company has plans to raise Rs 362.25 crore by issuing new shares while existing shareholders will also sell 6,518,876 shares through an offer for sale (OFS). Among the shareholders participating in SIS India IPO are Theano (3431282 shares), AAJV (68937 shares) while promoters Ravindra Kishore Sinha (17.60 lakh shares) and Rituraj Kishore Sinha (9.2 lakh shares) will also sell some of their stakes.

The IPO will be managed by Axis Capital, Kotak Mahindra Capital, ICICI Securities, IIFL Holdings, Yes Securities, SBI Caps and IDBI Capital Markets while Link Intime will be the registrar.

CX Partners will partly exit through SIS India IPO. Both Theano and AAJV are investment vehicles of CX Partners. SIS India will be the third company in which CX Partners would be offloading its shareholding in recent times. Earlier this year, the private equity firm got its portfolio companies Thyrocare Technologies and Ujjivan Financial Services listed on the stock exchanges.

On the financial front, SIS India’s revenue stands at Rs 3851.6 crore in FY16. The company’s net profit also has remained at Rs 7.43 crore in FY16.