SIS shares erase early gains; lose over 7% in debut trade

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 today.

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 day 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 during the day.

The company's 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.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)