Chennai based, CIEL company has submitted draft papers to SEBI for an IPO, this IPO is a combination of fresh issues of ₹335 crore with the ₹2 face value of each share and OFS (Offer For Sale) in 47.4 lacks by promoters quitting their position.
Promoters of this company are Kumar Nair, Pandiarajan Karuppasamy, Hemalatha Rajan, and Aditya Narayan Mishra. Moreover in this company promoters and promoters group hold 87% stocks. Furthermore, the company may consider raising ₹67 crore through a pre-IPO placement. If this placement occurs, the size of the new issue will be reduced.
The funds raised from the new issue will be used to meet the company’s increased working capital requirements, support general corporate activities, and Undisclosed acquisitions, the rest of the funds will be used to hold more ownership and stock in these companies such as First venture Corporation, Integrum Technologies, Next Leap Career Solutions, People Metrics, and Thomas Assessments leading strong controls and investments into that.
The lead managers of this company are Ambit Private Limited, Centrum Capital Limited, and HDFC Bank Limited.
CIEL HR Services, based in Chennai, offers technology-driven human resources solutions covering the whole HR spectrum and influencing every stage of the employee lifecycle.
Moreover, Wide geographic reach, a skilled team, advanced technology, and industry knowledge are the strengths of this company. Moreover, Ciel HR has researched areas such as the electric vehicle (EV) industry, semiconductor manufacturing, and startups.
From fiscal 2021 to fiscal 2024, the company’s operating revenue increased at a compound annual growth rate (CAGR) of 62.00%.over the same period the HR solutions sector as a whole grew at an average compound annual growth rate (CAGR) of about 18.1%. Additionally, this company has around 4,019 clients in FY 2022, 2023, and 2024. Aditya Birla Group, Puma Sports India Private Limited, Scootsy Logistics Private Limited, and Niva Bupa Health Insurance Company Limited are the substantial clients of this company.
CIEL HR Services IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
CIEL HR Services Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹528.53 | ₹521.77 | ₹6.88 |
| 2023 | ₹800.72 | ₹803.30 | ₹3.15 |
| 2024 | ₹1,088.20 | ₹1,075.74 | ₹10.85 |
| June 2024 | ₹325.97 | ₹321.94 | ₹3.17 |
CIEL HR Services IPO Valuation – FY2024
CIEL HR Services IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹2.55 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 12.93% |
| Net Asset Value (NAV): | ₹19.10 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Quess Corp Limited | 18.72 | 36.26 | 9.78 | 191.22 | 19,100.13 Cr. |
| Team Lease Services Limited | 67 | 41.96 | 14.06 | 475.74 | 9,321.53 Cr. |
| Spectrum Talent Management Ltd | 5.30 | 36.79 | 7.91 | 63.48 | 1,016.20 Cr. |
Objects of the Issue
- Acquisition of additional shareholding in the following Subsidiaries:
- (i) Firstventure Corporation Private Limited;
- (ii) Integrum Technologies Private Limited;
- (iii) Next Leap Career Solutions Private Limited; and
- (iv)People Metrics Private Limited and Thomas Assessments Private Limited
- Investment in the following Subsidiaries:
- CIEL Skills and Careers Private Limited, towards upgradation of its HR Tech Platform, ProSculpt;
- Firstventure Corporation Private Limited, towards upgradation of its learning experience platform, Courseplay;
- Integrum Technologies Private Limited, towards upgradation of its HR Tech Platform, HfactoR;
- Ma Foi Strategic Consultants Private Limited, towards upgradation of its HR Tech Platform,EzyComp; and
- Next Leap Career Solutions Private Limited, towards upgradation of its HR Tech Platform, Jombay
- Funding incremental working capital requirements of our Company
- Unidentified inorganic acquisitions and general corporate purposes
IPO Lead Managers aka Merchant Bankers
- Ambit Private Limited
- Centrum Capital Limited
- HDFC Bank Limited
