One of the country’s fastest-growing staffing companies, FirstMeridian Business Services Ltd., has filed a prospectus to get listed on the stock exchange. The public offer of Rs 800 crore includes Rs 50 crore in new issues and Rs 730 crore in an offer for sale of equities.
FirstMeridian Business Services is the country’s third-largest staffing company in terms of revenue in FY21. They are involved in offering a wide range of staffing services, including general staffing and allied service, global technology solutions, and other HR services.
They have 50 offices in 75 cities, catering to 1,212 clients, including Indian and global clients, as per data available for March 31, 2022.
FirstMeridian Business Services Ltd.Objective :
The net proceeds from the new shares will be utilised in repayment and prepayment of certain market borrowing.
Opening Date
Closing Date
Price Band
Issue Size
Face Value
Market Lot
Listing at NSE, BSE
| IPO Open Date | To be announced |
|---|---|
| IPO Close Date | To be announced |
| Allotment Date | To be announced |
| Initiation Of Refunds | To be announced |
| Credit Of Shares To Demat Account |
To be announced |
| IPO Listing Date | To be announced |
| UPI Mandate Expiry Date | To be announced |
| Particulars | FY21 | FY20 | FY19 |
|---|---|---|---|
| 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 |
A simple and smartest way to Apply in IPO online via Religare Dynami Mobile App
Here are our top reasons:
| Strengths | Risks | ||
|---|---|---|---|
| The HR staffing sector in the country is highly fragmented, with five large companies controlling 12% of the market, resulting in high growth prospects. | Although fragmented, the staffing industry is highly competitive, impacting the company’s future cash flow. | ||
| The company leverages technology to offer paperless onboarding using advanced software. | The company had recorded losses in the past, experiencing negative cash flow arising from the operation, investing, and financial activities. | ||
| They have an established track record of organic and inorganic growth. | Investors applying for the IPO must understand that the business is subject to extensive government regulations, which might impact the company’s ability to provide certain services. | ||
Retail investors need to apply for the IPO using UPI
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An IPO also known as initial pulic offering or stock launch is a process when a private company sale its shares to public for the first time. Learn more about IPO at our knowledge centre.
FirstMeridian Business Services Limited IPO offer of Rs 800 crore includes Rs 50 crore in new issues and Rs 730 crore in offer for sale of equities.
A lot size is the minimum number of shares that an investor has to bid for. A lot size differs for each IPO and is fixed by the company.
IPO Price Band is the price range within which investors can bid for the shares. The minimum price is called the floor price and the maximum price is called the cap price.
Issue size is the total value of an IPO. It is calculated by multiplying the number of shares offered by the company by the issue price per share.
You will receive an email on your registered email id if the IPO shares are allotted to you. Alternatively, you can also visit the registrar of the company’s official website and provide the details as asked in the allotment status section of the website.
IPOs, as such, do not have any taxes. You are taxed only when you decide to sell the IPO shares. Any monetary profit you make while selling the IPO shares is referred to as ‘capital gains’.
Capital gains tax is charged depending on how long you held the shares for. If you owned the shares for less than 12 months, it is considered as short-term capital gains and if it is over 12 months, it is referred as long-term capital gains.
Tax on short-term capital gains is 15%. It is 10% for equity gains in the long run (over 12 months). Do remember that you are taxed if the equity proceeds exceed Rs 1 lakh.
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Registration No: CA0581 | Company CIN : U65999DL2016PLC314319.
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