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SIS moves up on getting nod to acquire stake in SPAMRS

Security and Intelligence Services India is currently trading at Rs. 836.35, up by 1.40 points or 0.17% from its previous closing of Rs. 834.95 on the BSE. The scrip opened at Rs. 847.75 and has touched a high and low of Rs. 847.75 and Rs. 824.00 respectively.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1404.80 on 17-May-2018 and a 52 week low of Rs. 727.00 on 22-Nov-2018. Last one week high and low of the scrip stood at Rs. 855.00 and Rs. 820.00 respectively. The current market cap of the company is Rs. 6104.01 crore.

The promoters holding in the company stood at 74.34%, while Institutions and Non-Institutions held 14.90% and 10.76% respectively. Security and Intelligence Services (SIS) has received approval for the acquisition of shares in SIS Prosegur Alarm Monitoring and Response Services (SPAMRS) from Singpai Alarms. The acquisition is expected to complete in April 2019.

The Company is currently a 50% shareholder in SPAMRS and this acquisition would result in SPAMRS becoming 100% subsidiary of the Company. It is expected that this acquisition would result in a greater alignment with the group’s strategy and would also enable the integration of the business of SPAMRS with the existing business. SIS is a leading provider of private security and facility management services in India.

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