FirstMeridian Business Services Ltd IPO

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

To be announced

Closing Date

To be announced

Price Band

To be announced

Issue Size

To be announced

Face Value

To be announced

Market Lot

To be announced

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

IPO Financials

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

How to apply in IPO via UPI on Dynami

A simple and smartest way to Apply in IPO online via Religare Dynami Mobile App

Why should you invest in the FirstMeridian Business Services Ltd IPO?

Here are our top reasons:

  • They have a large geographical presence with 1212 clients, of which 923 are from the general staffing and allied services, 100 from global technology solution services and 189 from other HR services.
  • The staffing company caters to telecommunications, retail, BFSI and construction and infrastructure industries, meaning their revenue doesn’t depend on a single source.
  • FirstMeridian Business Services has made several strategic acquisitions that helped in the organic and inorganic growth of the company and expanded its revenue.

Know before investing

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.

How to apply for FirstMeridian Business Services Ltd IPO ?

Retail investors need to apply for the IPO using UPI


  • Link your bank account to a UPI ID.
  • Register your UPI id with your Demat account.
  • Subscribe for FirstMeridian Business Services Ltd IPO and approve the payment on your UPI ID.

Demat Account

  • If you are an existing Dynami user, Pre-Apply Now!
  • For new investor, we offer free demat account opening offer on our web & Dynami App ensuring a smooth and hassle-free experience for your initial investments.

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Demat & Trading Account
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Frequently asked questions

  • 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.