Economic Laws Practice (ELP) assisted SIS Cash Services Limited in filing of the Draft Red Herring Prospectus (DRHP) for their proposed initial public offering to raise an amount aggregating up to ₹100 crore via fresh issue and sale of upto 3,715,150 equity shares via offer for sale.
ELP’s team was led by Geeta Dhania (Partner), and assisted by Himani Sharma (Counsel), Tripti Pandey (Principal Associate), Ridhi Jain, Devika Radha, Anusha Agrawal and Shreya Prakash (Associates).
SIS Cash Services is engaged in providing cash logistics solutions in India for 13 years and offers services such as cash-in-transit, retail cash management, and additional value-added and synergistic solutions for a range of valuables.
The IPO will be conducted through a book-building process, with at least 75% of the shares allocated to qualified institutional buyers, up to 15% to non-institutional investors, and up to 10% to retail individual investors. The price band and specific dates for the IPO will be determined and announced at a later stage.
As of fiscal year 2024, SIS Cash Services is recognized as the second-largest cash logistics provider in India based on revenue. The company offers a comprehensive range of services, including cash-in-transit, doorstep banking, ATM-related services, and bullion management. The funds raised from the fresh issue are intended to support the company's growth initiatives and enhance its operational capabilities.
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