CIEL HR Services has initiated its journey toward a public offering by filing a draft red herring prospectus (DRHP) with SEBI. The company will be raising Rs. 335 Crores from the IPO using fresh equity shares and offers for sale. Running successfully since 2015, CIEL HR Services is among the top hiring companies existing in the country. The company aims to raise capital to fulfill a variety of strategic objectives. These include meeting additional working capital needs, supporting its subsidiaries, addressing general corporate purposes, and pursuing other planned initiatives. Let us dive deeper into CIEL HR Services’ IPO below.
CIEL HR Services Prepares For ₹335 Crore IPO To Fuel Growth And Strategic Objectives
CIEL HR Services has filed draft papers with SEBI for an IPO worth Rs. 335 crores. The fresh equity shares will be for Rs. 335 crores. The offer for sale will include 4,739,336 equity shares at a face value of Rs. 2 per share. Thus, it includes the company’s shareholders, Pandiarajan Karuppasamy selling 2,544,1181 equity shares, Hemaltha Rajan selling up to 629,357 equity shares, Aditya Narayan Mishra selling up to 629,357equity shares, Santhosh Kumar Nair selling 594,540 equity shares and Doraiswamy Rajiv Krishnan selling 118,537 equity shares. Here’s the list of other stakeholders involved in the offer for sale:
- Ganesh P.Padmanabhan: 47,391 equity shares
- Soby Mathew: 47,391 equity shares
- Anup Narendra Meron: 47,391 equity shares
- Mohit Gundecha: 8,727 equity shares
- Suruchu Wagh: 8,727 equity shares
- Cavinkare Private Limited: 10,778 equity shares
- Piyush Jain: 9,358 equity shares
- Rajan Chellamani Nadar & Muhil Nesi Vivekanandah: 8,085 equity shares
- Sambasivan Vishwanthan & Vidya Vishwanathan: 26,188 equity shares
- Tamilmani Muthuswamy: 2,591 equity shares
The following lead managers have been appointed to oversee and manage the company’s IPO:
- HDFC Bank Limited
- Ambit Private Limited
- Centrum Capital Limited
Many wonder whether to invest in the company’s IPO or not. If we talk about the company’s financials, CIEL HR Services had a net profit of Rs. 10.85 crores. While the sales were Rs. 1,085.73 crores in the financial year ending in March 2024. For the financial year before that, the company had sales of Rs. 799.36 crores with a loss of Rs. 3.15 crores.
Consequently, the company transitioned from a loss of Rs. 3.15 crore in the previous financial year to profitability in the last fiscal year, signalling promising prospects for stronger performance in the current year. If we talk about the current year’s first quarter results (as of June 2024), the company has made a profit of 3.2 crores with a revenue of Rs. 325.2 crores. We hope you got enough details regarding CIEL HR Services’ IPO.CIEL HR Services Set to Raise Rs. 335 Crore In IPO After Strong Financial Turnaround