Shares of Security and Intelligence Services (SIS) erased early gains to close with a loss of over 7 per cent against the issue price of Rs 815 in debut trade yesterday, reported PTI. The stock listed at a premium of 7.36 per cent at Rs 875 on BSE. However, it gave up all the gains later and finally closed at Rs 756.70, showing a loss of 7.15 per cent over the issue price. During the trade, it touched a high of Rs 878 and a low of Rs 749. At NSE, shares of the company slumped 7.11 per cent to close at Rs 757.05. In terms of equity volume, 13.20 lakh shares of the company were traded on BSE and over 80 lakh shares changed hands at NSE yesterday. The companys market valuation stands at Rs 5,535.94 crore. The initial share sale offer of Security and Intelligence Services (India) Limited was oversubscribed 7 times. The company had set Rs 805-815 per share as the price band for the IPO.
The company provides security solutions and business support services to a wide range of customers across India and Australia. Axis Capital Limited, ICICI Securities Limited, IIFL Holdings Limited and Kotak Mahindra Capital Company Limited were the global coordinators and book running lead managers to the offer.