Ciel Group will go public in the next 12 to 18 months & acquires Rs. 20 crores in Private Investments from Zoho Corp and others!!CIEL is a Mauritian international investment group, listed on the Mauritius Stock Exchange. Ciel HR Services has received a 20 crore ($ 2.8 million) investment from Zoho Corp, Idhayam, Sri Kaliswari Fireworks, and a few HNIs, according to the Ciel Group. Ciel HR Services, a recruitment firm, plans to go public in the next quarters, backed by hiring growth.
“Over the next few quarters, Ciel HR Services aspires to go public in order to establish itself as a worldwide known organisation,” Ciel Group said in a statement on Tuesday. Ciel HR Services, Ciel Skills and Careers, Ciel Technologies, and Integrum Technologies are the business units of the Ciel Group.
The recruitment arm, which is seeking for an IPO, saw income increase by 70% in FY22 and a CAGR of 121 percent over the previous seven years. Ciel HR Services recorded a turnover of 520 crores as of March 31, 2022, compared to a turnover of 306 crores the previous financial year.
Manufacturing, energy, infrastructure, IT & outsourcing, financial services, consumer products, pharma, and services are among the industries where it hires.
“We will continue to establish digital assets that increase internal efficiencies while also delivering increasing value to our clients, applicants, and deputees with additional investments,” stated Aditya Narayan Mishra, Director and CEO of Ciel HR Services. In FY23, he told Mint, the company is aiming for a revenue of 1000 crore.
Aditya Narayan Mishra and Santhosh Nair, who formerly worked at recruitment business Ma-Foi, co-founded Ciel HR Services in 2015. LathaRajan and K. Pandiarajan are major backers of the recruitment agency.
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The Group launched CielJobs.com, a skill tech platform geared at students and freshers who wish to upskill and connect with an employer, on Tuesday.
Organizations such as Zoho Corp, Idhayam, Sri Kaliswari Fireworks, and a few HNIs have made private investments in Ciel HR Services totaling Rs.20 crores ($ 2.8 million).
“It’s extremely amazing to see Ciel HR Services emerge as a top ten HR services firm in India in its seven years of existence, with revenue growth of 70% when the sector has only increased by 15%,” said K Pandiarajan, Executive Chairman of Ciel Group, in a statement on Tuesday.
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