Security and Intelligence Services (SIS) Limited’s shares were up by 1.32 per cent after the company disclosed its Investment Committee’s approval for an investment of up to Rs 3.5 crore in Entitled Solutions Private Limited. This move involves the subscription to Compulsorily Convertible Debentures (CCDs) and aims to secure a minimum of 4.73 per cent shareholding in Entitled.
Operating in the tech-enabled platform domain, entitled focuses on assisting low-income workers in accessing financial, health services, and government schemes. The investment, falling outside related party transactions, is SIS’s commitment to its Ventures program, emphasizing early-stage tech-enabled companies that offer synergistic adjacencies and create value for customers or employees.
This financial venture is expected to be completed in two tranches, with an initial completion anticipated before March 31, 2024. The investment structure involves cash consideration, with an option for additional investment.
The shares were up by 1.32 per cent to Rs 443 at 12.15 pm on the BSE.