CIEL HR Services Files for IPO with SEBI: Targets ₹335 crore via Fresh Issue The proposed IPO will consist of a fresh issue and an offer for sale (OFS) component of 47.4 lakh shares by promoters and other shareholders selling shares, according to the draft red herring prospectus (DRHP) filed recently.
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CIEL HR Services Ltd has recently filed its draft IPO papers with the market regulator Securities and Exchange Board of India (SEBI), eyeing INR 335 crore via a fresh issue.
The proposed IPO will consist of a fresh issue and an offer for sale (OFS) component of 47.4 lakh shares by promoters and other shareholders selling shares, according to the draft red herring prospectus (DRHP) filed recently.
According to company details, promoters, and promoter group currently hold 87 per cent stake in the company, and it is also considering raising INR 67 crore through a pre-IPO fundraising, which may result in issue size reduction,
Net proceeds from the IPO will be used for acquiring an additional shareholding in subsidiary companies namely - Firstventure Corporation, Integrum Technologies, Next Leap Career Solutions, People Metrics, and Thomas Assessments, as well as capital expenses, unidentified inorganic acquisitions and general corporate purposes.
The company will also use the IPO funds to invest in CCIEL Skills and Careers, FirstVenture Corporation, Integrum Technologies, Ma Foi Strategic Consultants, and Next Leap Career Solutions, and will utilize proceeds to expand the respective subsidiaries' learning experience platforms.
Centrum Capital, Ambit, and HDFC Bank are book-running lead managers (BRLMs) to the issue.
