SIS Cash Services Limited IPO Details

Incorporated in 2011, SIS Cash Services Limited provides a range of cash logistics and outsourcing solutions across India. The company offers the following services:

1. Cash in Transit Services
2. Retail Cash Management (Doorstep Banking)
3. ATM Cash Replenishment and First-Level Maintenance
4. Cash Assistant / Cash Peon Services
5. New Solutions for valuables, including cash, as part of its value-added services.

These services, collectively known as Traditional Cash Logistics Services and New Solutions, form the core of the company's offerings. Over time, SIS Cash Services Limited has moved towards offering integrated and end-to-end outsourcing solutions, especially for the banking sector.

The company serves both public and private sector banks, offering customized outsourcing services based on specific requirements. SIS Cash Services Limited also provides services to clients in organised retail, government departments, and e-commerce, among other sectors.

As of December 31, 2024, eight of the company’s top 10 clients have been associated for over a decade. Key clients include Union Bank of India, Central Bank of India, State Bank of India, HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, and several foreign banks. The client base also includes managed service providers, NBFCs, retail chains, public sector units, railways, hospitals, metro systems, educational institutions, tea gardens, passport centres, and fuel outlets.

SIS Cash Services Limited operates through an integrated platform supported by proprietary and licensed technology solutions, including systems provided by Prosegur. As of December 31, 2024, the workforce includes 11,818 direct employees and 5,575 personnel from third-party sources.