SIS Plans ₹120 Crore Share Buyback, Sets Price At ₹478.50 Per Share

SIS has approved, in principle, a share buyback proposal worth up to ₹120 crore, marking the fifth such programme since the company listed in August 2017. If completed, the move will take the company's total capital returned to shareholders through buybacks and dividends to around ₹720 crore. At the maximum buyback price, SIS could repurchase nearly 25 lakh shares.

The company has fixed the maximum buyback price at ₹478.50 per share, which is about 10% higher than the previous closing price of ₹435. The final number of shares bought back will depend on the price at which the buyback is carried out. The proposal will now require approvals from the board, shareholders and regulators before it is implemented.

At 2:47 PM on 30 June, SIS shares were trading at ₹421.96, down 3.19% on the National Stock Exchange (NSE).

What Does The Buyback Mean For Shareholders?

SIS said it has consistently returned surplus capital to shareholders since becoming a listed company. Before the latest proposal, it had returned around ₹600 crore, including nearly ₹420 crore through four buyback programmes and about ₹180 crore through dividends.

With the proposed fifth buyback, the cumulative amount returned to shareholders is expected to increase to approximately ₹720 crore. The company has also bought back close to 86 lakh shares across its previous four buyback programmes. Including the latest proposal, the total number of shares repurchased could cross 1.11 crore.

Group Managing Director Rituraj Kishore Sinha said the company will continue to evaluate opportunities to return excess capital to shareholders. He added that, like the previous buybacks, the proposed programme is expected to improve earnings per share and return on capital.

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Buyback Terms Yet To Be Finalised

The company said the mode of the buyback, along with the detailed terms and timeline, will be decided after receiving the necessary approvals. The programme will be carried out in line with the Companies Act, 2013, the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, and other applicable rules.

SIS is an Indian multinational that provides security services, facility management and cash logistics solutions. It employs more than 3 lakh people, operates across over 600 districts in India and also has a significant presence in Australia. The company said it remains focused on balancing growth investments with returning surplus capital to shareholders.