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SIS LIMITED — Capital/Financing Update 2022
Apr 15, 2022
60900_rns_2022-04-15_38df40a8-92b9-4546-a6e1-44c6715094d1.pdf
Capital/Financing Update
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Date: April 15, 2022
National Stock Exchange of India Limited BSE Limited Exchange Plaza Phiroze Jeejeebhoy Towers C-1, Block G, Bandra Kurla Complex, Dalal Street Bandra (E), Mumbai-400051 Mumbai-400001 NSE Symbol: SIS BSE Code: 540673
Dear Sir/Madam,
Sub: Intimation of agreement for acquisition of shareholding in Staqu Technologies Private Limited
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has signed Share Subscription Agreement for acquisition of 7.65% shareholding in Staqu Technologies Private Limited.
We enclose herewith the details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 as an Annexure.
This is for your information and record.
Thanking you.
For SIS Limited
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Pushpalatha K Company Secretary
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SIS Limited
(Formerly Security and Intelligence Services (India) Limited) Address for correspondence: #106, 1st Floor, Ramanashree Arcade, 18 MG Road, Bangalore- 560 001, Karnataka Registered office: Annapoorna Bhawan, Patliputra Telephone Exchange Road, Kurji, Patna 800 010 Bihar Website: www.sisindia.com Tel: +91 80 2559 0801 E-mail ID: [email protected]
CIN: L75230BR1985PLC002083
Annexure
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Information required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015
| a) | Name of the target entity, details in brief such as size, turnover etc.; |
Staqu Technologies Private Limited (“Staqu”) For the financial year 2020-21, the revenue was Rs. 3.2 Crores |
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| b) | whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”; |
The proposed acquisition does not fall within related party transaction(s) and the promoter/promoter group/group companies of SIS Limited (“SIS”) do not have any interest in Staqu, the entity being acquired. Certain Senior Managers of SIS and its subsidiaries will be co-investing Rs. 0.37 crores on similar terms for acquisition of 0.57% shareholding on a fully diluted basis. |
| c) | industry to which the entity being acquired belongs; |
1. Video and audio analytics and platform 2. Security and Facility Management |
| d) | objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity); |
Video analytics-based security solutions are expected to transform the security industry worldwide and the Company, to keep pace with this transformative trend, proposes to invest in such strategic capabilities. |
| e) | brief details of any governmental or regulatory approvals required for the acquisition; |
None |
| f) | indicative time period for completion of the acquisition; |
On or before 30thApril 2022 |
| g) | nature of consideration - whether cash consideration or share swap and details of the same; |
Cash Consideration |
| h) | cost of acquisition or the price at which the shares are acquired; |
Rs. 5 crores |
| i) | percentage of shareholding / control acquired and / or number of shares acquired; |
SIS proposes to invest Rs. 5 crore for acquisition of 7.65% shareholding (7,773 shares) on a fully diluted basis in Compulsorily Convertible Preference Shares. |
SIS Limited (Formerly Security and Intelligence Services (India) Limited)
Address for correspondence: #106, 1st Floor, Ramanashree Arcade, 18 MG Road, Bangalore- 560 001, Karnataka Registered office: Annapoorna Bhawan, Patliputra Telephone Exchange Road, Kurji, Patna 800 010 Bihar Website: www.sisindia.com Tel: +91 80 2559 0801 E-mail ID: [email protected]
CIN: L75230BR1985PLC002083
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| j) | brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); |
Staqu was incorporated on June 16, 2015 in New Delhi, India and founded by the co- founders, i.e., Mr. Anurag Saini, Mr. Atul Rai and Mr. Pankaj Sharma. It is primarily a video and audio analytics and platform company. Its product called JARVIS (Joint AI Research for Video Instances & Streams) is an AI tool in video analytics and video management solutions that helps its customers. JARVIS works on cloud & on the Edge and on both digital & analog cameras. The turnover of Staqu for the past three years is as follows: FY21 – Rs. 3.2 crores FY20 – Rs. 14.3 crores FY19 – Rs. 2.8 crores |
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SIS Limited
(Formerly Security and Intelligence Services (India) Limited)
Address for correspondence: #106, 1st Floor, Ramanashree Arcade, 18 MG Road, Bangalore- 560 001, Karnataka Registered office: Annapoorna Bhawan, Patliputra Telephone Exchange Road, Kurji, Patna 800 010 Bihar Website: www.sisindia.com Tel: +91 80 2559 0801 E-mail ID: [email protected]
CIN: L75230BR1985PLC002083