SIS Ltd to invest in Entitled Solutions Pvt Ltd

The Investment Committee of SIS Limited ("SIS") has, in its meeting held today, approved an investment of upto Rs. 3.5 crores in Entitled Solutions Private Limited ("Entitled"), by way of subscription to Compulsorily Convertible Debentures ("CCDs"), for the acquisition of a minimum of 4.73% shareholding (subject to conversion of the CCDs as per the agreed valuation cap) in Entitled.

Entitled operates a tech enabled platform that helps low-income workers access financial and health services as well as get support with statutory and government schemes.

SIS had created SIS Ventures program to invest in early stage tech-enabled companies that provide Synergistics adjacencies, and create value for its customers or employees.

This investment fits in the employee category since it provides significant benefits to blue collar employees.

SIS proposes to invest upto Rs. 3.50 crores by way of subscription to 3,077 CCDs having a face value of Rs. 11,373 each for acquisition of a minimum of 4.73% shareholding (subject to conversion of the CCDs as per the agreed valuation cap) in Entitled. SIS also has the option to invest a further amount of upto Rs. 1.5 crores, on the same terms, for a minimum of 1.88% shareholding (subject to conversion of the CCDs as per the agreed valuation cap) in Entitled.

Entitled Solutions Private Limited was incorporated on May 9, 2019 in Mumbai, India by the co-founders, i.e., Mr. Anshul Khurana, Mr. Krishna Yadav and Mr. Arpan Jain.

Entitled is an inclusion ecosystem that helps lowincome workers access financial and health services as well as get support with statutory and government schemes. It integrates with employers as well as gig and staffing service platforms to enable embedded access to services for workers. Its service ecosystem aims to help workers live a significantly better life while allowing employers and platforms to improve recruitment, retention and engagement with workers.

Shares of SIS LIMITED was last trading in BSE at Rs. 437.25 as compared to the previous close of Rs. 430.55. The total number of shares traded during the day was 7713 in over 354 trades.

The stock hit an intraday high of Rs. 456.20 and intraday low of 433.75. The net turnover during the day was Rs. 3452911.00.

Source : Equity Bulls

Keywords

SIS INE285J01028 Investment EntitledSolutions