CIEL HR acquires talent assessment company, plans IPO in Q2 of FY24

Skilling solutions firm is in talks to acquire two other professional staffing companies before its goes public

CIEL HR Services, which provides workforce and skilling solutions, said on Thursday it had acquired talent assessment company Next Leap Career Solutions. The two sides didn’t disclose the deal value.

CIEL, which plans an initial public offering (IPO) in the second quarter of the next financial year, recorded 80 per cent year-on-year growth in revenue for the first half of FY23 reaching Rs 382.59 crore from Rs 212.25 crore a year ago. The company’s operating Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin stands at Rs 4.58 crore.

CIEL signed an agreement to acquire its complete equity stake in