With growing security services in the country, Canbank Venture Capital Fund has picked up a minority stake in Surat-based Shiva Industrial Security Agency (SISA) in Gujarat. The company has invested Rs11 crore in the form of equity shares and convertibles for the stake.
“The private security services sector in India is expected to grow at 20 per cent annually up to 2019 with 90 per cent of security comprising manned guarding and secure cash movement. It expects to offer significant returns through dividends and capital appreciation on exit” said S Thiruvadi, Managing Director, SISA.