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Shares of Security and Intelligence Services (India) Ltd made an impressive stock market debut today, surging nearly 8 per cent against the issue price of Rs 815.
The stock opened the day at Rs 875, reflecting a gain of 7.36 per cent over the issue price on the BSE. Intra-day, it soared 7.73 per cent to Rs 878. On the NSE, shares of the company got listed at Rs 879.80, up 7.95 per cent.
The company’s market valuation stands at Rs 6,048.42 crore.
The initial share sale offer of Security and Intelligence Services (India) Ltd was oversubscribed 7 times. The company had set Rs 805-815 per share as the price band for the IPO.
SIS (India) provides security solutions and business support services to a wide range of customers across India and Australia.
Axis Capital Ltd, ICICI Securities Ltd, IIFL Holdings Ltd and Kotak Mahindra Capital Company Ltd were the global coordinators and book running lead managers to the offer.
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