FirstMeridian Business Services files fresh DRHP for IPO

first meridian
January 31, 2023

Staffing establishment FirstMeridian Business Services Ltd has refiled primary papers with capital requests controller Sebi and reduced its original Public Offering (IPO) size to Rs 740 crore from Rs 800 crore planned before. The original share- trade comprises fresh allocation of equity shares worth Rs 500 crore and an Offer For trade (OFS) of Rs 690 crore, according to the Draft Red Herring Prospectus( DRHP) filed with Sebi on Friday.

As a part of the OFS, protagonist Manpower results Limited will vend shares worth Rs 615 crore while being shareholders New Lane Trading LLP and Seed three Trading LLP would vend shares worth Rs42.5 crore and Rs32.5 crore, independently. The company, which counts Adani Anchorages NSE 2.37% and Special Economic Zone, Dell International Services India, PhonePe, Usha International, Exide diligence NSE 2.86% and Eureka Forbes as some of its crucial guests, has proposed to use the net proceeds from the fresh issue towards the.

JM Financial NSE 0.08%, DAM Capital counsels, Edelweiss Financial Services NSE 1.40% and IIFL Securities NSE 1.18% are the book running lead directors to the issue. The equity shares are proposed to be listed on BSE and NSE. Incorporated in 2018, FirstMeridian provides a wide range of service immolations, including general staffing and confederated services, by offering results for contract staffing, pool robotization, trade marketing, and global technology through short and long- term technology contract staffing.

In addition, the Bengaluru- grounded establishment provides other HR services like endless reclamation, reclamation process outsourcing, medicinal and healthcare staffing, installation operation and engineering and specialized staffing results. before in May 2022, FirstMeridian Business Services had filed draft papers with Sebi to raise Rs 800 crore through an IPO, which comported of Rs 50 crore from fresh issue and an OFS adding up to Rs 750 crore by promoters and being shareholders.

About FirstMeridian Business Services Limited

We are a human resources investment platform formed by world-renowned investors with the objective to deliver end-to-end HR solutions and build a winning workforce that thrives in change. We provide work to 108,000+ people who serve 1100+ customers across 3500+ locations through our branch network. Our customers span across industry sectors, including Telecom, Retail, BFSI, IT, ITES, E-Commerce, Manufacturing, Engineering and Logistics.

“Building Partnerships, Creating Value” We combine our extensive experience in HR solutioning with future-ready technology to help organizations and talented individuals achieve their objectives and aspirations.


Our Business Segments: General Staffing & Allied Services-Global Technology Solutions-Other HR Solutions

Staffing Solutions: End-to-End HR Solution – Hiring to Exit-PAN-India Sourcing and Deployment-Payroll Management-Apprentice Hiring Under the National Apprentice Promotion Scheme (NAPS)

Trade Marketing Solutions: Visual Merchandising-Brand Activation Campaigns-Retail Audit-Loyalty Management Programs

Workforce Automation Solutions

DigiTrac – A one-stop mobile attendance, digital onboarding and employee self-service app to automate the HR workflow of an employee

Infield – Retail Sales and Marketing Automation Technology – geo-tagged attendance, lead management, sales tracking, retail marketing, store audit, stocking and reporting

FM Learn – An in-house mobile-enabled Online Skilling Platform that delivers a robust Learning and Development solution to transform workplace learning

Our Vision & Mission

Transforming lives by enhancing economic opportunities for the workforce. Fulfilling a billion dreams daily.

” Winning together with a purpose “

To be a leading Business and HR Solutions platform delivering enduring value for all stakeholders through-An Energized, People Centric Culture-Responsible Execution-Innovative Technology.

Our Values: Growth – Ownership – Authenticity – Collaboration – Caring