SIS Eyeing To Acquire a Majority Stake in a Delhi-Based Company
Security and Intelligence Services (SIS), a security service provider based in New Delhi is eyeing to acquire a majority stake in another security management company for around Rs 300 crore.
SIS is a BSE listed company and this acquisition will mark the very first acquisition by the security services provider that has created a war chest of around Rs 1,000 crore for acquisitions in the sector for next few years.
“The deal is as good as done,” a banker close to the development stated. “SIS would have a controlling stake in the company that currently has a revenue of around Rs 400 crore,” he added.
SIS is in advanced staged to take over the NCR based security and facility management company which hires around 15,000 people. However, the name of the company that is to...