SIS Limited AKA Security and Intelligence Services will buyback nearly shares 18,18,181 Lakhs for about Rs.99.99 Crore. In a filing to the stock exchanges, SIS Limited said it will buyback percent of the fully paid-up equity shares at a price of Rs.550/- per share.
SIS Ltd OFFER FOR BUYBACK OF UP TO 18,18,181 (EIGHTEEN LAKH EIGHTEEN THOUSAND ONE HUNDRED EIGHTY ONE ONLY) FULLY PAID-UP EQUITY SHARES OF THE COMPANY OF THE FACE VALUE OF INR 5/-(“EQUITY SHARES”) EACH, REPRESENTING 1.24% OF THE TOTAL NUMBER OF EQUITY SHARES IN THE TOTAL PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY AS ON MARCH 31, 2020, FROM ALL ELIGIBLE SHAREHOLDERS (EQUITY SHAREHOLDERS AS ON THE RECORD DATE) ON A PROPORTIONATE BASIS, THROUGH THE ‘TENDER OFFER’ PROCESS, AT A PRICE OF INR 550/-(INDIAN RUPEES FIVE HUNDRED FIFTY ONLY) PER EQUITY SHARE, PAYABLE IN CASH, FOR AN AGGREGATE MAXIMUM AMOUNT OF INR 99,99,99,550/-(INDIAN RUPEES NINETY NINE CRORE NINETY NINE LAKH NINETY NINE THOUSAND FIVE HUNDRED FIFTY ONLY) EXCLUDING THE TRANSACTION COSTS.
SIS Limited Buyback 2021 Offer Details:
| Buyback Type: | Tendor Offer |
| Buyback Record Date: | 09 April 2021 |
| Buyback Offer Amount: | ₹ 99.99 Crore |
| Date of Board Meeting approving the proposal: | Feb 15 2021 |
| Date of Public Announcement: | Mar 23 2021 |
| Buyback Offer Size: | 1.24% |
| Buyback Number of shares: | 18,18,181 |
| Price Type: | Tendor Offer |
| FV: | Rs. 5 |
| Maximum Buyback Price: | ₹ 550 Per Equity Share |
SIS Limited buyback of 18,18,181 Lakhs equity shares which is around 1.24% of all the existing number of equity shares at a price of ₹550 per equity share. The buyback offer not exceeding of ₹99.99 crore of total buyback offer size.
SIS Limited Buyback Important Dates
In this section we have covered all important dates related to “SIS Limited Buyback Date”. Dates are updated as they are announced. The most noted dates are SIS Limited record date and SIS Limited buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for SIS Limited Buyback proposal | 15.02.2021 |
| SIS Limitedl Buyback Approval date | 15.02.2021 |
| Public Announcement of SIS Limited Buyback | 23.03.2021 |
| SIS Limited Buyback Record Date | 09.04.2021 |
| SIS Limited Buyback opens on/Buyback Opening Date | 12.05.2021 |
| SIS Limited Buyback closes on/Buyback Closing Date | 27.05.2021 |
| Cut-off date to receive completed tender forms by Registrar | 29.05.2021 |
| Cut-off date for verification by the Registrar | 02.06.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
04.06.2021 |
| Last date of settlement of bids on the stock exchange | 07.06.2021 |
| Last date to return unaccepted shares by Registrar | 07.06.2021 |
| Last date of extinguishment of Equity Shares | 14.06.2021 |
Note: If anything you want to know about the buyback offer you can refer the SIS Limited buyback offer documents. Click Here
How to Participate in SIS Limited buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of SIS Limited in demat or physical form as on record date (not announced)
2. Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE.
3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
Checkout Current SIS Limited Shares market price on NSE and BSE: SIS Limited
The SIS Limited approved a proposal for buyback of up to 18,18,181 Lakh fully paid-up Equity Shares of the Company of face value Rs. 5 each, being 1.24% of the total issued and paid-up equity share capital of the Company as per the audited consolidated and standalone condensed interim financial statements ("Audited Condensed Interim Financial Statements") as on 31.03.2020, for an aggregate amount not exceeding Rs. 99.99 Cr, which is not exceeding 25% of the aggregate of the total issued and paid-up equity share capital and free reserves as per the Audited Condensed Interim Financial Statements of the Company as at and for the period as on 31.03.2020 at Rs. 550 per share via " Tender Route".
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About SIS Limited :
Security and Intelligence Services (India) Limited (SIS) is a leading provider of private security, facility management and cash logistics services. SIS is the 2nd largest & fastest growing Security services company in India and the largest security services company in Australia. It is also the 2nd largest facility management services company in India. SIS is the 2nd largest Cash Logistics Service provider in India. The Company has developed its 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. SIS has the largest trained manpower supply chain in India. The Company is promoted by Ravindra Kishore Sinha and Rituraj Kishore Sinha. As on March 31, 2019, the Company has 38 subsidiaries 3 associates and 2 Joint Ventures. Security and Intelligence Services (India) Limited was incorporated as a private limited company with the name Security and Intelligence Services (Eastern India) Private Limited' on January 2, 1985. In order to effectively expand its operations at the national level, the words Eastern India' were removed from company name in 1992, and the name of the company was changed to Security and Intelligence Services (India) Private Limited' on May 27, 1992. Subsequently, the Company was converted into a public limited company and the name was changed to Security and Intelligence Services (India) Limited' on July 29, 1993. In 2005, company-wide implementation of ISO 9001 was initiated. During the year under review, the company entered into cash logistics services segment. In 2006, Version 1 of SIS ERP was rolled out. During the year under review, the company crossed the 10,000-employee mark. In 2008, D. E. Shaw Composite Investments (Mauritius) Limited, PCC made investment into the company. During the year under review, the company launched mechanized cleaning services. During the year under review, credit rating agency CRISIL awarded SME 1' rating to the company. During the year under review, the company acquired MSS Security from Chubb Security Australia Pty. Limited for AUD 45 million. In 2011, the company entered into a joint venture with Prosegur Spain for cash logistics business. During the year under review, the company entered into a joint venture with Terminix US for entry into pest control business. In 2013, D. E. Shaw sold its entire investment in the company. During the year under review, CX Partners (Theano and AAJV) made investment into the company. During the financial year ended 31 March 2013, the company crossed Rs 2500 crore in-consolidated revenue. In December 2014, the company acquired the cash logistics business of ISS SDB Security Services Private Limited. In 2015, the number of employees of the company crossed 1 lakh. During the year under review, the company became India's second largest operator in cash logistics business segment, in terms of total revenue and number of employees, according to Frost & Sullivan. During the financial year ended 31 March 2015, the company crossed Rs 3500 crore in consolidated revenue. In 2016, the company's subsidiary MSS Security was recognized for operating a quality management system for security manpower services at contracted locations across Australia and was certified to be in compliance with the requirements of ISO 9001:2008. During the year under review, the company acquired 78.72% of the outstanding equity shares of Dusters Total Solutions Services Private Limited (Dusters), with the agreement to increase its shareholding to 100% over the next three years (pursuant to which it acquired a further 7.2% of the outstanding equity of Dusters on 31 July 2017). Dusters are the fourth largest facility management services provider in India, in terms of revenues, as of 31 March 2016, according to Frost & Sullivan. In 2017, the company through its indirect subsidiary SIS Australia Group acquired 51% of the voting rights in Andwills Pty Ltd which resulted in acquisition of additional 41% of voting rights in Southern Cross Protection Pty. Ltd. (SXP) (one of the former associates of the company), thereby resulting in Andwills Pty Ltd., SX Protective Services Pty Ltd., SXP and subsidiaries of SXP becoming subsidiaries of the company.
NECESSITY OF BUYBACK By SIS Limited
The Buyback is being undertaken by the Company after taking into account the operational and strategic cash requirements of the Company in the medium term and for returning surplus funds to the Shareholders in an effective and efficient manner. The Buyback is being undertaken for the following reasons:
(i) The Buyback will help the Company to distribute surplus cash to its Shareholders holding Equity Shares thereby enhancing the overall return for them;
(ii) The Buyback, which is being implemented through the tender offer route as prescribed under the Buyback Regulations, would involve a reservation of up to 15% of the Equity Shares, which the Company proposes to buyback, for small shareholders or the actual number of Equity Shares entitled as per the shareholding of small shareholders on the Record Date, whichever is higher. The Company believes that this reservation for small shareholders would benefit a significant number of the Company’s public shareholders, who would be classified as “Small Shareholders”;
(iii) The Buyback is generally expected to improve return on equity through distribution of cash and improve earnings per share by reduction in the equity base of the Company, thereby leading to long term increase in shareholders’ value; and
(iv) The Buyback gives an option to the Eligible Shareholders to either (A) participate in the Buyback and receive cash in lieu of their Equity Shares which are accepted under the Buyback, or (B) not to participate in the Buyback and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.
Company Contact Information
Annapoorna Bhawan, Telephone Exchange Road,Kurji, Patna-800 010Tel. No.: +91 612 226 6666| Fax. No.: +91 612 226 3948Contact Person: Ms. Pushpalatha Katkuri,Company Secretary and Compliance OfficerE-mail: shareholders@sisindia.com|Website: www.sisindia.com
SIS Limited Buyback 2021 FAQs:
When is SIS Limited Record Date?
SIS Limited buyback 2021 record date is 09-Apr-2021.
When is SIS Limited Buyback announcement Date?
SIS Limited buyback 2021 announcement Date is 23-Mar-2021.
What is SIS Limited Buyback Price?
The company has fixed the maximum price of ₹550
How to apply for SIS Limited Buyback 2021?
As per the record date you need to have SIS Limited shares in your demat account. You can participate in buyback after having the stock in your account.
