|
|
|
Issue Open Date
|
31-Jul-17
|
|
|
|
Issue Closing Date
|
02-Aug-17
|
|
|
|
Application Money
|
100
|
|
|
|
Allotment Money
|
|
|
|
|
|
|
|
Price Band
|
805
-
815
|
|
|
|
Minimium Application No.
|
18
|
|
|
|
Issue Size (Shares)
|
5316187
|
|
|
|
Market Lot
|
1
|
|
|
|
|
|
Objective
|
|
Objects of the Fresh Issue1. Repayment and pre-payment of a portion of certain outstanding indebtedness availed by our Company;2. Funding working capital requirements of our Company; and3. General corporate purposes.
|
|
|
|
|
|
|
Category
|
No. of Shares
|
No. of Shares
|
Subscription Ratio
|
|
|
Offered / Reserved |
Bid For |
|
|
Non-Institutional Investors
|
1443092
|
2392218
|
1.65770304318782
|
|
Qualified Institutional Buyers
|
2911034
|
16419222
|
5.64034016778918
|
|
Retail Individual Investors
|
962061
|
18765342
|
19.5053556895041
|
|
|
|
|
Business Description
Overview We are a leading provider of private security and facility management services in India. Our portfolio of services includes: A. private security services, comprising of: 1.security services: we are the second largest security services provider in India, in terms of revenue, as of March 31, 2016, and the fastest growing security services provider in India, based on revenues for Fiscal Years 2010 to 2014, according to Frost & Sullivan. In addition, Freedonia ranks our wholly-owned Subsidiary, MSS Security Pty Limited (“MSS”) as the largest security services provider in Australia, jointly with a competitor, in terms of revenues, as of March 31, 2015. We provide a comprehensive range of security services ranging from providing trained security personnel for general guarding to specialized security roles in India and Australia. In Australia, we also provide paramedic and allied health, fire rescue services, mobile patrol, loss prevention and other related services. 2.cash logistics services: we are the second largest cash logistics service provider in India, in terms of market share by revenue, number of employees, ATMs served and cash vans utilized, as of March 31, 2015, according to Frost & Sullivan. Our cash logistics business in India includes services such as cash in transit including transportation of bank notes and other valuables, doorstep banking as well as cash processing, ATM related services including ATM replenishment, first line maintenance and safekeeping, and vault related services for bullion and cash; and 3.electronic security services and home alarm monitoring and response services: In India, we provide electronic security services, including integrated and turnkey electronic security and surveillance solutions combining electronic security with trained manpower and have recently entered into a joint venture in order to provide home alarm monitoring and response services; 4. facility management services: Our facility management services in India include cleaning, janitorial services, disaster restoration and clean-up of damage, as well as facility operation and management such as deployment of receptionists, lift operators, electricians and plumbers, and also pest and termite control. Effective August 1, 2016, we acquired 78.72% of the outstanding equity shares of Dusters Total Solutions Services Private Limited (“Dusters”), with the agreement to increase our shareholding to 100% over the next three years. Dusters is the fourth largest facility management services provider in India, in terms of revenues, as of March 31, 2016, according to Frost & Sullivan. We have developed our portfolio of services in order to cater to the needs of diverse consumer segments, including, business entities, Government organizations and households, and to leverage the growth and potential of such customer segments in India. We have entered into strategic relationships in India with several multinational companies. For our cash logistics and alarm monitoring and response businesses, we have entered into joint ventures with affiliates of Prosegur Compañía de Seguridad, S.A (“Prosegur”), a global player in cash management and alarm monitoring. We have also entered into a joint venture with an affiliate of Terminix International Company, L.P. (“Terminix”), a multi-national provider of termite and pest control services. In addition, we have licensed the ‘ServiceMaster Clean’ brand, and associated proprietary processes, operating materials and knowhow for our facility management business in India from The ServiceMaster Company, LLC (“ServiceMaster”) group, a commercial and residential cleaning service provider. Our strategic relationships with reputed industry participants enable us to offer a one-stop-shop for the portfolio of private security and facility management services, benefit from know-how, technology, staff and market reputation of our partners, leverage our existing infrastructure, branch network and customers, and share risk and costs associated with starting new businesses, including by lowering our capital expenditure. As of April 30, 2017, we have a widespread branch network consisting of 251 branches in 124 cities and towns in India, which cover 630 districts. We employed 148,678 personnel in India and rendered security and facility management services at 11,869 customer premises across India. In Australia, we operate in each of the eight states and employed 5,754 personnel servicing 245 customers, as of April 30, 2017. Our widespread branch network enables us to service a large number of customer premises and render customized services across India and Australia. We have set up an extensive employee platform which spans recruitment, customized training and development, deployment, incentivization and management of personnel. We have deep geographical reach for manpower sourcing and training and currently operate 18 training academies across India and four training academies across Australia. In India, our security services personnel undergo extensive physical and classroom training. Our personnel recruitment, training and deployment initiatives are process oriented and technology driven with detailed performance indicator tracking, reporting and evaluation of personnel. We benefit from a pipeline of operational managers from the graduate trainee officer program undertaken at our training academy at Garhwa, Jharkhand, which is focused on developing a management cadre with in-depth knowledge of our business and operations. Our security personnel in Australia hold the required state security licenses and undergo both company-specific and site-specific training. Our Promoters, Ravindra Kishore Sinha and Rituraj Kishore Sinha, have over three decades and one decade of experience, respectively, in operating our business. In addition, we are led by a well-qualified and experienced management team, which we believe has demonstrated its ability to manage and grow our operations organically and also acquire and integrate businesses. Certain key members of our managerial team have also gained relevant experience by working with global leaders in their respective business segments. For further details see “Our Management” on page 249. In addition, our Key Management Personnel have, on average, 20 years of experience with us. We have also benefited from the strategic inputs and support of investors such as Thomas Berglund and Hakan Winberg, each of whom have approximately two decades of experience in the security services industry, including over a decade as CEO and CFO, respectively, at Securitas AB, a multinational security services company. Our total revenue grew at a CAGR of 14.56% to ? 45,771.22 million for Fiscal Year 2017 from ? 26,577.00 million for Fiscal Year 2013. On a pro forma basis, giving effect to our acquisition of Andwills Pty Ltd. (“Andwills”) and Dusters for the year ended March 31, 2017, our total revenue would have been ?51,312.50 million. Our revenue from operations for Fiscal Year 2017 from our security services, cash logistics, electronic security and facility management businesses (including revenues from pest-control services) were, ?39,820.15 million, ?1,651.28 million, ?69.34 million and ?3,949.78 million, respectively. Our EBITDA has grown to ?2,233.78 million for the Fiscal Year 2017 from ?1,255.15 million for the Fiscal Year 2013. EBITDA is a supplemental measure of our performance and liquidity and is not prepared under or required by Indian GAAP or IND-AS. See “Summary Financial Information” on page 71.
|
|
|
Promoter's Holding
|
|
|
|
Total Share Capital
|
|
|
|
|
Offered to Public
|
|
|
|
|
Promoter's Holding (Pre-Issue)
|
|
|
|
|
Promoter's Holding (Post-Issue)
|
|
|
|
|
|
|
|
|
|
|
|
Address |
Annapoorna Bhawan
Telephone Exchange Road
Kurji
Patna,
Bihar,
800010
Phone : 061-22266666
Email : investorrelations@sisindia.com
Website : www.sisindia.com
|
|
|
Registrar |
Link Intime India Pvt Ltd.
C 101
247 Park
LBS Marg
Vikhroli (West)
Mumbai
|
|
|
Listed at |
|
BSE, NSE
|
|
|
Lead Manager |
Axis Capital Ltd.
ICICI Securities Ltd
IDBI Capital Markets & Securities Ltd. (Formerly known as IDBI Capital Market Services Ltd.)
IIFL Holdings Ltd.
Kotak Mahindra Capital Co Ltd
SBI Capital Markets Ltd
Yes Securities (India) Ltd.
|
|
|
Promoters |
Ravindra Kishore Sinha
Rituraj Kishore Sinha
|
|
