In order to raise an estimated Rs 500 crore through an initial public offering, Security and Intelligence Services has filed its draft papers with market regulator Securities and Exchange Board of India (SEBI). The IPO comprises fresh issue of shares worth Rs 362.25 crore and an offer for sale of up to 65,18,876 shares by the existing shareholders.
The company will use the issue proceeds for repayment of loan, funding working capital requirements and for general corporate purposes.
The global coordinators and book running lead managers to the issue are Axis Capital, ICICI Securities, IIFL Holdings, and Kotak Mahindra Capital Company, while SBI Capital Markets, IDBI Capital Markets & Securities and Yes Securities (India) are merchant bankers to the issue.
The firm provides security solutions and business support services to a wide range of customers across India and Australia.
