Chennai-based CIEL HR Services Ltd has raised ₹30 crore via pre-IPO placement. This comprises allotment of of 27,27,272 equity shares amounting to ₹30 crore to 88 marquee investors like Zoho Corporation, Pegasus India Evolving Opportunities Fund, Standard Fireworks, Rajashekar Reddy Seelam – founder of 24 Mantra Organic, Prime Securities, KTV Kannan – promoter of KTV Oil Mills & KTV Health Foods, Sri Kaliswari Fireworks, Family office of the Pothys, AIKYAM Capital, NS Rajan and Abhijit Bhaduri, CIEL HR said in an advertisement issued on Saturday.
The company has undertaken a pre-IPO placement of equity shares for cash at a price of ₹110 per equity share. This includes a share premium of ₹108 per equity share, aggregating to ₹30 crore. It is promoted by K Pandiarajan, Hemalatha Rajan, Aditya Narayana Mishra, Santhosh Kumar Nair and D Rajiv Krishnan.
The company filed DRHP with SEBI last year for a proposed IPO. The size of the fresh issue, now up to ₹329 crore, has been reduced by ₹30 crore pursuant to the pre-IPO placement and an Offer for Sale remains up to 47,39,336 equity shares by selling shareholders, says the advertisement.