Security and Intelligence Services debuts with 5% gains at Rs 855

Security and Intelligence Services (India) opened the first trade at Rs 855 on the National Stock Exchange, up 4.9 percent over its issue price of Rs 815.

The listing was on expected lines as the issue saw a subscription of 7 times.

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At 10:02 hours IST, the stock was trading at Rs 856.95, up 5.14 percent over issue price but down 2.6 % from pre-opening price.

In the pre-opening, the stock settled at Rs 879.80, higher by 8 percent from its issue price

The listing was on expected lines as the issue saw a subscription of 7 times.

At 10:02 hours IST, the stock was trading at Rs 856.95, up 5.14 percent over issue price but down 2.6 percent from pre-opening price.

In the pre-opening, the stock settled at Rs 879.80, higher by 8 percent from its issue priceThe funds raised through fresh issue would be used for repayment & pre-payment of a portion of certain outstanding indebtedness availed by company (about Rs 200 crore); funding working capital requirements (Rs 60 crore); and general corporate purposes.

The Security and Intelligence Services provides security services both in India and Australia with diverse solutions across the security spectrum. The portfolio of services includes security design and solutions, fire safety, event security, VIP protection, aviation security, emergency response, investigation work and integrated technology solutions providing man-tech solutions.

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