The FirstMeridian Business Services Ltd Date Will Be Updated Soon .
FirstMeridian Business Services Ltd., one of the country’s fastest-growing staffing firms, has filed a prospectus to be listed on the stock exchange. The Rs 800 crore public offer includes Rs 50 crore in fresh issues and Rs 730 crore in equity sales.
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Bidding Dates
Coming Soon
Price Range
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Face Value
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GMP
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FirstMeridian Business Services Ltd GMP
The FirstMeridian Business Services Ltd IPO GMP is ₹[].
IPO Overview
FirstMeridian Business Services Ltd has filed a DRHP and awaits SEBI’s approval. It has proposed a total offer size of Rs. 740 crore, where the fresh issue is up to Rs. 50 crore and an OFS of approximately Rs. 690 crore by promoters and shareholders.
In terms of revenue, FirstMeridian Business Services is the country’s third-largest staffing firm in FY21. They provide various staffing services, such as general and related services, global technology solutions, and other HR services. According to data available for March 31, 2022, they have 50 offices in 75 cities and serve 1,212 clients, including Indian and foreign businesses. The net revenues from the new shares will be used to repay and prepay specific market borrowing.
FirstMeridian Business Services IPO Financials
| Particulars | FY 2021 | FY 2020 | FY 2021 |
| Revenue From Operation | 21,102 | 20,584 | 13,984 |
| EBITDA | 394.14 | 355.02 | 98.18 |
| EBITDA Margin (%) | 1.9 | 2.1 | 0.6 |
| Profit After Tax | NA | NA | NA |
| EPS | NA | NA | NA |
| ROE | NA | NA | NA |
FirstMeridian Business Services Peer Comparison
| Company Name | Total Income (in Rs million) | P/E | EPS |
| Quess Corp Ltd. | 108,820.00 | 175.59 | 3.87 |
| Team Lease Services Ltd. | 49,162.00 | 77.48 | 45.33 |
| FirstMeridian Business Services Ltd. | 21,241.76 | NA | 4.66 |
Company Profile
We are a human resources investment platform formed by world-renowned investors to deliver end-to-end HR solutions and build a winning workforce that thrives in change. We provide work to 126,824 people who serve 1200+ clients across 3500+ locations through our branch network. Our customers span industry sectors, including Telecom, Retail, BFSI, IT, ITES, E-Commerce, Manufacturing, Engineering and Logistics. They have a vast geographical footprint with 1212 clients, 923 of which are in general staffing and related services, 100 in global technology solution services, and 189 in other HR services.
The employment firm serves the telecoms, retail, BFSI, and building and infrastructure industries, thus their revenue is diverse. FirstMeridian Business Services has completed several significant acquisitions that have aided the company’s organic and inorganic growth and revenue expansion.
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
