Sis Cash Services IPO

About Sis Cash Services

SIS Cash Services is a company operating in the cash logistics and cash management services sector. It is a subsidiary of SIS Limited, a leading provider of security, facility management, and cash logistics solutions in India and Asia-Pacific. SIS Cash Services focuses on secure transportation of cash, ATM replenishment, currency chest operations, and other related services for banks and financial institutions. With a wide operational footprint and adherence to safety standards, the company plays a key role in supporting the physical cash ecosystem. Its services are aligned with regulatory guidelines and aim to ensure reliability and efficiency in cash handling.

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Financials of Sis Cash Services

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*All figures are in ₹ Crores.

Issue size

Funds Raised in the IPO	Amount
Overall	–
Fresh Issue	₹100 crores
Offer for sale	–

Utilisation of proceeds

Purpose	INR crores (%)
Repayment of borrowings	37.5 (37.5%)
Capital expenditure	30 (30%)
General corporate purposes	–

Strengths

• Backed by SIS Group, a well-established security services provider.
• Strong network and operational presence across India.
• Trusted partner for major banks and financial institutions.
• Adherence to regulatory and safety compliance standards.
• Steady demand for physical cash services in semi-urban and rural areas.

Risks

• The increasing shift toward digital payments is reducing long-term cash handling demand.
• High operational risks are linked to physical cash transportation.
• Intense competition from other cash logistics providers.
• Dependence on contracts with financial institutions.
• Exposure to regulatory changes in the cash management sector.