CIEL HR Services IPO
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CIEL HR Services IPO details
About CIEL HR Services
Incorporated in 2015, CIEL HR Services offers a broad portfolio of human resource services and technology platforms that address various stages of the employee lifecycle. Its service offerings include staffing, recruitment, payroll processing, HR advisory, and skill development, supported by platforms for talent assessment, employee engagement, learning experience, compliance, and lifecycle management. As of June 30, 2024, the company had served over 4,000 clients across multiple sectors. Notable clients include Scootsy (a subsidiary of Swiggy), Puma, Axis Bank, Niva Bupa, Brigade Enterprises, and the Aditya Birla Group.
Financials of CIEL HR Services
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | 47,39,336 shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | ₹335 crores |
| Offer for sale | Up to 4,739,336 Equity Shares of face value of ₹2 each aggregating up to ₹ [●] Cr |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Acquisition of additional shareholding in subsidiaries | 40.73 (12%) |
| Investment in certain subsidiaries |
55.20(16.4%) |
| Working capital requirements | 100(29.85%) |
| Unidentified inorganic acquisitions and general corporate purposes |
[.] |
Strengths
- Only fully integrated, tech-driven HR solutions provider in India
- Diversified industry presence with long-standing client relationships
- Strong pan-India reach via asset-light partner model
- In-house capability to develop customizable HR tech platforms
- Track record of successful acquisitions and financial growth
- Led by experienced promoters and professional management team
Risks
- Operates in a competitive, fragmented industry with low entry barriers
- Limited control over business partners impacting operations and brand
- Exposure to unsecured loans that may be recalled at any time
- Past instances of delays in statutory payments and related penalties