(Source:ANI) The Security and Intelligence Services (India) Limited is eyeing to raise Rs 3622.50 million through initial public offering (IPO) to be opened on July 31.
The IPO, which will be closed on August 2, offers equity shares of Rs. 10. The price band of the offer is fixed from Rs. 805 to Rs. 815 per equity share. Bids can be made for a minimum of 18 equity shares and in multiplies of 18 equity shares thereafter.
The Offer is being made through the Book Building Process in accordance with Regulation 26(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
SIS group managing director Rituraj Kishore Sinha, in a press conference, told media, “We are planning to make SIS number one company in the global market with updated equipment both in placement and security solutions.”
It is claimed that 75 percent of the offer shall be allotted on a proportionate basis to qualified institutional buyers (“QIBs”), provided that the company and the investor selling shareholders in consultation with the global coordinators and book running lead managers (GCBRLM) and the book running lead managers (BRLM) may allocate up to 60 percent of the QIB portion to anchor investors at the anchor investor allocation price on discretionary basis.
The number of equity shares representing five percent of the net QIB portion (other than anchor investor portion) shall be available for allocation on a proportionate basis to mutual funds only.
However, if the aggregate demand from mutual funds is less than five percent of the net QIB portion, the balance equity shares available for allocation in the mutual fund portion would be added to the remaining net QIB Portion for proportionate allocation to QIBs.