Sun. Dec 1st, 2024

365Telugu.com online news, November 20,2024: CIEL HR Services Limited, India’s only company offering a comprehensive range of technology-driven HR solutions across the entire employee lifecycle as of June 30, 2024 (source: F&S Report), has submitted its Draft Red Herring Prospectus (DRHP) to SEBI for an Initial Public Offering (IPO).

Key Highlights of the IPO:

  • Fresh Issue: Equity shares worth up to ₹335 crores.
  • Offer for Sale (OFS): Up to 4,739,336 equity shares by existing shareholders with a face value of ₹2 per share.

Promoters and Selling Shareholders:

The company is promoted by Pandiarajan Karuppasamy, Chairman and Executive Director of CIEL HR Group, and Hemalatha Rajan, both of whom were the original founders of Ma Foi Management Consultants Private Limited (acquired by a global staffing firm).
The OFS includes shares from the following:

  • Promoter Selling Shareholders:
    • Pandiarajan Karuppasamy: Up to 2,544,181 shares
    • Hemalatha Rajan: Up to 629,357 shares
    • Aditya Narayan Mishra: Up to 629,357 shares
    • Others, including Doraiswamy Rajiv Krishnan and Santhosh Kumar Nair
  • Other Selling Shareholders:
    • Cavinkare Private Limited: Up to 10,778 shares
    • Various individuals including Ganesh S Padmanabhan, Soby Mathew, and Sambasivan Viswanathan

Fund Utilization:

The proceeds from the IPO will be directed towards:

  • Acquiring additional stakes in subsidiaries
  • Investments in subsidiaries
  • Meeting incremental working capital needs
  • Unidentified inorganic acquisitions
  • General corporate purposes

Core Offerings and Business Model:

CIEL HR Services Limited provides a broad spectrum of human resource services and advanced technology platforms tailored to various industry needs. Key services include:

  • Recruitment and Staffing
  • Payroll Processing
  • Strategic HR Advisory
  • Skill Development

The technology platforms support:

  • Competency evaluation
  • Learning enhancement
  • Employee lifecycle management
  • Upskilling
  • Regulatory compliance
  • Workforce engagement

Book Running Lead Managers:

  • Ambit Private Limited
  • Centrum Capital Limited
  • HDFC Bank Limited

With this IPO, CIEL HR aims to strengthen its position as a leader in technology-enabled HR solutions, enabling organizations to attract, retain, and develop top talent effectively.

For more details, read the DRHP here.

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