18 February 2025, 04:59 PM
CIEL HR Services has received markets regulator Securities and Exchange Board of India’s (SEBI's) clearance to raise funds through initial public offering (IPO). The proposed IPO is a combination of fresh issue of equity shares worth Rs 335 crore and an offer for sale (OFS) of 47.4 lakh shares by promoters and other selling shareholders.
Proceeds from the fresh issue will be used for acquisition of additional shareholding in subsidiaries -- Firstventure Corporation, Integrum Technologies, Next Leap Career Solutions, People Metrics and Thomas Assessments -- as well as funding incremental working capital requirements of the company, unidentified inorganic acquisitions and general corporate purposes. Additionally, funds will be used for investment in five subsidiaries -- CCIEL Skills and Careers, FirstVenture Corporation, Integrum Technologies, Ma Foi Strategic Consultants and Next Leap Career Solutions -- towards expansion of their respective learning experience platforms. Centrum Capital, Ambit and HDFC Bank are book-running lead managers to the issue.
Chennai-based CIEL HR Services offers a comprehensive suite of technology-driven human resources solutions across the entire human resource chain impacting every part of the employee lifecycle.