The initial share sale offer of Security and Intelligence Services (India) Limited (SIS) has been so far oversubscribed 1.34 times on the second day of the offer today. The IPO received bids for 71,17,758 shares against the total issue size of 53,16,187 shares, as per the data available with the NSE till 1600 hrs. SIS expects to raise up to Rs 780 crore from the IPO, a part of which will go towards debt repayment. SIS has set Rs 805-815 per share as the price band for the initial public offer (IPO) which is scheduled to close tomorrow.
The IPO comprises a fresh issue of equity shares valuing up to Rs 362.25 crore and an offer for sale of up to 5,120,619 equity shares to be diluted by investors and promoters. Axis Capital Limited, ICICI Securities Limited, IIFL Holdings Limited and Kotak Mahindra Capital Company Limited are the global coordinators and book running lead managers to the offer.