SIS debuts over IPO price

Security and Intelligence Services (India) or SIS as it is known, got listed on the BSE today at Rs875 v/s IPO price of Rs.815.

The IPO was subscribed 7 times. Qualified institutional buyers (QIBs) portion was oversubscribed 5.64 times, non institutional investors 1.66 times and retail investors 19.51 times.

SIS, with strength of 1.5 lakh billing employees, provides security services through 94,281 security guards in India and 5,587 in Australia (as of 31-3-17), accounting for 35% and 52% of the company’s consolidated revenue, respectively. Balance revenue comes from manned services in India, such as facilities management (8% of revenue), cash logistics (4% of revenue), pest and termite control, electronic security and home alarms.