CIEL HR Services Sets IPO Plans for Growth and Expansion

CIEL HR Services Ltd has filed for an IPO to raise funds of Rs 335 crore through a fresh issue and an offer for sale. The proceeds will support acquisitions, working capital, and the expansion of subsidiaries' platforms. Lead managers include Centrum Capital, Ambit, and HDFC Bank.

In a significant financial move, CIEL HR Services Ltd has initiated the process to launch an initial public offering (IPO), aiming to raise Rs 335 crore in funds. The company filed preliminary papers with the Securities and Exchange Board of India (Sebi) as part of this venture.

The IPO structure consists of a fresh issue of equity shares worth Rs 335 crore along with an offer for sale (OFS) involving 47.4 lakh shares by the company's promoters and other selling shareholders. Additionally, there is a provision for raising Rs 67 crore through a pre-IPO placement, which could affect the size of the fresh issue.

The funds are earmarked for acquiring additional stakes in subsidiaries such as Firstventure Corporation and Integrum Technologies. They will also support working capital needs, inorganic acquisitions, and corporate purposes while boosting investment in learning platforms within subsidiaries like CCIEL Skills and Careers.

(With inputs from agencies.)