You are here: Home » Markets » IPOS » News
Business Standard

Staffing firm FirstMeridian files papers for Rs 800-cr IPO with Sebi

The Bangalore-based HR services platform plans to raise Rs 50 crore in fresh capital through the IPO and the remaining Rs 750 crore will be an offer for sale by existing shareholders

Topics
Draft Red Herring Prospectus | IPO | SEBI

BS Reporter 

ipo

FirstMeridian Business Services, India’s third-largest staffing company, has filed its (DRHP) with market regulator for a Rs 800-crore .

The Bangalore-based HR services platform plans to raise Rs 50 crore in fresh capital through the . The remaining Rs 750 crore will be an offer for sale by existing shareholders. Incorporated in 2018, FirstMeridian provides a wide range of service offerings including general staffing by offering contract staffing solutions, workforce automation solutions and trade marketing solutions, global technology solutions and other HR services, including permanent recruitment, recruitment process outsourcing.

The company has a pan-India presence with over 50 branch offices for sourcing and recruitment in 75 cities with more than 118,000 associates deployed at over 3,500 locations as at March 31, 2022. Its revenue from operations stood at Rs. 2,110 cr for the year ended March 31, 2021.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, May 12 2022. 19:12 IST
RECOMMENDED FOR YOU
.