Security and Intelligence Services India Limited has signed definitive agreements to acquire initially 80% shareholding in Rare Hospitality and Services Private Limited.
The acquisition would help the Company ("SIS") increase market share in the facility management services and also increase its presence in the Western region.
Rare is a strong player in the healthcare segment and post-acquisition, SIS + Rare will be a dominant player in the healthcare segment which is poised to be a high growth industry with increasing focus on bealthcare by private and government institutions.
The valuation of the shares is arrived at based on an Enterprise value of Rs. 63 crores.
Shares of Security and Intelligence Services (India) Ltd was last trading in BSE at Rs.913.9 as compared to the previous close of Rs. 927.75. The total number of shares traded during the day was 152 in over 29 trades.
The stock hit an intraday high of Rs. 943.5 and intraday low of 913.9. The net turnover during the day was Rs. 140509.