• SISA to deploy funds for expansion of operations across India.
Mumbai, India – June 05th, 2015 — Canbank Venture Capital Fund through its Fifth Fund viz., Emerging India Growth Fund has invested Rs.11 Cr by way equity shares and convertibles for a minority stake in Surat based M/s Shiva Industrial Security Agency (Guj) Pvt Ltd (SISA).
SISA is a leading ISO Certified Pan India Security Services Company having more than 4000 Guards and 150 plus cash Vans, with a turnover exceeding Rs 55 Cr. Among the security solutions offered by SISA are Manned Guarding, Cash Handling, Electronic Security Equipment, Event Security and Emergency Response Services. With a nationwide presence, SISA is providing security services to leading corporates, Industrial Units, Airports, Metro Stations, Public & Private Sector Banks, Malls/shopping complexes, Apartments, Hospitals etc.
Said Mr S Thiruvadi, Managing Director, Canbank Venture Capital Fund Ltd. (CVCFL), “The Private Security services sector in India is expected to grow at 20% annually up to 2019 with 90% of security comprising of manned guarding and secure cash movement. SISA has a progressive professional management which envisages taking the company on fast track growth. CVCFL anticipates that the company through profitable business mix and quality management shall be able to offer significant returns through dividends and capital appreciation on exit. CVCFL aims to assist unlisted mid stage/late stage companies in the manufacturing and services sector with good growth potential and require funding”
Indian private security services industry has an estimated business of Rs.30,000 Cr and has been repeatedly growing at 15-20% annually and FICCI expects it to cross Rs.60,000 Cr by 2020. But only 60% of this is in the organized sector and ‘physical guarding’ accounts for bulk of the revenue. The private security services industry is one of the largest employers in India. There are around 6.5 million private security personnel employed across India and it is expected to continue to grow in the future.
States Sameer Sharma, MD, SISA, “We have been looking for funds to expand and upgrade our operations especially in the field of Physical guarding and Cash Management Services. The funds from CVFCL shall be deployed towards adding Branches to boost the existing guarding strength and also to increase our Cash Van fleet strength by adding another 100 Cash Vans this Financial Year 2015-16. The company also proposes to give added thrust to high margin business segment like Emergency Response Services & Event Management Security services. The aim is to become one amongst India’s top ten Security Services Providers and reach a turnover of Rs 150 Crore by FY 2017-18.
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