CIEL HR Services, which provides technology-driven human resources solutions, has received SEBI’s go ahead to raise funds through an initial public offering. 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. Centrum Capital, Ambit and HDFC Bank are book-running lead managers to the issue. Saatvik Green Energy and Fujiyama Power Systems filed their respective IPO papers with Sebi in November and December respectively. The IPO is expected to be launched on February 25. The company may consider raising Rs 67 crore through a pre-IPO placement. If this is carried out, the freshissue size will be reduced. It provides HR services, including professional staffing, value staffing, executive search, selection and recruitment process outsourcing, payroll and compliance, HR advisory, and skilling. It also offers HR tech platforms, including talent assessment and development, talent engagement, employee learning, human resource management system, fresher upskilling and statutory compliance management.
