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Ciel Hr Services is in the process of raising 200 Cr pre-IPO round | Chennai News

Chennai: Human resources and staffing services company CIEL HR Services is in the process of raising approximately 200 crore of funds, including a 24 crore private placement, in preparation for its IPO scheduled for December 2023.
“We intend to raise around 650 crore through the IPO. Approximately 125 crore is planned to be offered for sale,” said K Pandiarajan, Executive Chairman and Director, Ma Foi Group & CIEL Group. The company also announced its vision to unify more than 35,000 disorganized HR service providers using digital technologies, in what it has dubbed “Uberization” of the human resources world. “The second round of funding will help CIEL to go a step further and remain committed to improving the image of the Indian HR services industry by introducing innovative digital models that benefit both the jobseekers and jobseekers alike,” said Pandiarajan.

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