Home / Markets / IPO / SIS Cash Service IPO to raise Rs 100 cr, promoters offer 3.7 mn addl shares

SIS Cash Service IPO to raise Rs 100 cr, promoters offer 3.7 mn addl shares

Proceeds from the fresh issue to the tune of ₹37.59 crore will be used for the purchase of cash vehicles and fabrication of the secured vehicle

SIS Cash Services is the second-largest player in the industry by revenue for fiscal 2024 (Photo: Shutterstock)

2 min read Last Updated : Mar 29 2025 | 11:24 AM IST

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Cash logistics player SIS Cash Service Ltd has filed draft papers with the market regulator Sebi to mop up funds through an initial public offering (IPO).

The IPO is a mix of fresh issue of shares worth ₹100 crore and an offer for sale (OFS) of 3.715 million shares by promoters, according to the draft red herring prospectus (DRHP) filed on Thursday.

Those selling shares in the OFS are SIS Ltd and SMC Integrated Facility Management Solutions Ltd.

Proceeds from the fresh issue to the tune of ₹37.59 crore will be used for the purchase of cash vehicles and fabrication of the secured vehicle; ₹29.81 crore for payment of debt and a portion will be used for general corporate purposes.

SIS Cash Services is the second-largest player in the industry by revenue for fiscal 2024, with an estimated market share of 17-18 per cent, according to a Crisil report.

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The company operates under the trademark SIS Prosegur, while its wholly-owned material subsidiary, SIS Prosegur Holdings, operates under the trademark SISCO.

The company provides cash-in-transit services, retail cash management (doorstep banking) services, ATM cash replenishment and first-level maintenance services, and cash assistant-cash peon services.

Additionally, it offers value-added and synergetic solutions for various valuables, including cash. Through its integrated services, the company has shifted its business mix towards offering more comprehensive and end-to-end solutions for its clients.

For the nine months ended December 31, 2024, the company's revenue from operations stood at ₹529.86 crore and profit after tax stood at ₹38.74 crore.

DAM Capital Advisors is the sole book-running lead manager to the issue.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)