Cochin Shipyard, SIS (India) to hit markets this week

New Delhi, July 30:  

Cochin Shipyard and Security and Intelligence Services (India) will hit the market this week with initial share sale offer to raise over Rs 2,000 crore.

Bidding for the shares of Security and Intelligence Services will begin from July 31-August 2, while that of Cochin Shipyard will be open from August 1-3.

Security and Intelligence Services (India) Ltd (SIS) had on Friday said it will launch an IPO on Monday and expects to raise up to Rs 780 crore, 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). The IPO comprises 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. The company has raised Rs 350.81 crore from anchor investors.

Axis Capital Ltd, ICICI Securities Limited, IIFL Holdings Ltd and Kotak Mahindra Capital Company Ltd are the global coordinators and book running lead managers to the offer.

The company offers cash logistics and facility management services.

IPO-bound public sector unit Cochin Shipyard aims to raise up to Rs 1,468 crore through its share sale offer. Cochin Shipyard has fixed the price band at Rs 424-432 for its IPO of 33,984,000 equity shares.

SBI Capital Markets Ltd, Edelweiss Financial Services Ltd and JM Financial Institutional Securities Ltd are the book running lead managers to the offer.

(This article was published on July 30, 2017)

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