Chennai-based CIEL HR Services Ltd, India’s leading staffing solutions provider, said that it has raised Rs 30 crore from 88 investors, including Zoho Corporation, Pegasus India and Standard Fireworks, as part of its pre-IPO placement.
The company said that it has undertaken a pre-IPO placement of 27,27,272 equity shares for Rs 110 apiece. It also said that the size of the IPO, which was initially planned of Rs 3,280.78 million, has been reduced by Rs 300 million and the offer for sale remains at 47,39,336 equity shares.
Besides Zoho, Pegasus and Standard Fireworks, other pre-IPO placement investors are Rajashekar Reddy Seelam, founder of 24 Mantra Organic brand; Broking company Prime Securities Limited; Sri Kaliswari Fireworks Private Limited; KVPS Investments, family office of the Pothys; AIKYAM Capital; NS Rajan; former CHRO of Tata Sons; and former chief learning officer at WIPRO Abhijit Bhaduri.
The pre-IPO placement was approved by the Board on November 17, 2025, and later by shareholders at their extra ordinary general meeting held on November 28, 2025.
The company plans to utilise the proceeds from the fresh issue to acquire additional stakes in its subsidiaries — Firstventure Corporation, Integrum
Technologies, Next Leap Career Solutions, People Metrics and Thomas Assessments — besides funding incremental working capital requirements, pursuing inorganic acquisitions and meeting general corporate expenses.
It will also invest in five subsidiaries — CCIEL Skills and Careers, FirstVenture Corporation, Integrum Technologies, Ma Foi Strategic Consultants and Next Leap Career Solutions — to expand their learning experience platforms.