Security and Intelligence files IPO papers with Sebi

Security and Intelligence Services on Wednesday filed their draft papers

with Securities and Exchange Board of India to raise an estimated ~500 crore through an initial public offering. The firm provides security solutions and business support services to a wide range of customers across India and Australia. The IPO comprises fresh issue of shares worth ~362.25 crore and an offer for sale of up to 6,518,876 by the existing shareholders, as per Draft Red Herring Prospectus.