First Meridian Business Services IPO Analysis @ Chanakyanipothi.comFirstMeridian Business Services ipo
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    First Meridian Business Services IPO Promoters
    MANPOWER SOLUTIONS LIMITED

    First Meridian Business Services IPO Company Details

    Within only four years since its inception, First Meridian Business Services has become India’s third largest staffing company, in terms of revenue for the year ended March 31, 2021. It provides a wide range of service offerings, including (1) general staffing and allied services, by offering contract staffing solutions, workforce automation solutions and trade marketing solutions to meet business needs of clients across diverse industries; (2) global technology solutions, offered through short- and long-term technology contract staffing solutions for clients; and (3) other HR services, including permanent recruitment, recruitment process outsourcing, pharmaceutical and healthcare staffing, facility management and engineering and technical staffing solutions.
    First Meridian Business Services has a pan-India presence with over 50 branch offices for sourcing and recruitment in 75 cities with 118,082 Associates deployed at over 3,500 locations as at March 31, 2022.

    The human resource services industry in India is a highly fragmented market, with the five largest staffing companies occupying a market share of 12%, in terms of revenue for the year ended March 31, 2021. Given that the staffing industry benefits from economies of scale, as one of the three largest human resource services platforms with a wide branch network, it has an advantage over regional and smaller players in the human resource services industry.
    First Meridian Business Services has developed sector-specific capabilities that have enabled it to serve a diverse client base in a wide range of industries, including telecommunications, retail, banking, financial services and insurance, construction and infrastructure, information technology and information technology enabled services, e-commerce, manufacturing and engineering, and logistics.

    For more information, click www.firstmeridian.com

    Objects of the IPO
    The Company proposes to utilize the Net Proceeds from the Fresh Issue towards Repayment and/ or prepayment of all or certain portion of outstanding borrowing availed by one of its Subsidiaries, namely Innovsource Services Private Limited

    First Meridian Business IPO Details
    IPO opens on  (?) ,2022
    IPO closes on  (?) ,2022
    Issue Type Book Built Issue IPO
    Issue Size up to (?) Shares /Rs 800 Cr
    * Fresh Issue Rs.50 Cr
    * Offer for Sale  up to (?) Shares /Rs 750 Cr
       
    Face Value per share: Rs. 10
       
    Price Band Rs. (?)
    Employee discount  Rs. (?) per share
    Retail Lot Size  (?) Shares
    Listing will at  BSE, NSE
    Shares offered to Shares Rs.
    QIB (50 %)  Rs (?) Cr
    NII (15 %)  Rs (?) Cr
    RII (35 %)  Rs (?) Cr
    Employees  Rs (?) Cr
    Total Shares   
    Retail portion will be oversubscribed by  – Forms
    How much Shares to Apply?  
    Min Retail Application – Shares Rs. –
    Max Retail Application  – shares Rs. –
    Small HNI (Min) application  – Shares Rs. –
    Small HNI (Max) application – shares Rs. –
    Big HNI Application – shares Rs. –
    First Meridian IPO Tentative timetable
    IPO opens on ? ,2022
    IPO Closes on ? ,2022
    IPO Allotment on  ? ,2022
    Unblocking of ASBA  ? ,2022
    Credit to Demat Accounts  ? ,2022
    Listing on ? ,2022
    Registered Office of First Meridian
    501, Jolly Board Tower 1, I Think Techno Campus, Kanjurmarg East, Mumbai 400 042, Mumbai City, Maharashtra,
    First Meridian IPO lead Managers
    J M Financial, Edelweiss Financial Services, DAM Capital Advisors, IIFL Securities,
    Registrar to First Meridian IPO
     Link Intime India Ltd.
    First Meridian IPO Financial & Analytical Ratios
    Year Total Income Net Profit EPS RoNW
      Rs. in Cr Rs. in Cr Rs. %
    2019-20 2075.40 (19.61) (2.72) (7.52)
    2020-21 2124.18 (33.66) (4.66) (14.7)
    2021-22 (9M) 2074.64 21.40 2.96 8.33
    Book Value of the Share on 31.12.2021 Rs.35.58    
    Book Value of the Share after the IPO Rs.    
    Offer Price   Rs. –    
    Ratio Analysis
    Upper Price Band/last EPS
    Upper offer price/Book Value Ratio
    Upper offer price/BV after IPO Ratio

    First Meridian Peer Comparison

    As on date of DRHP Total Income Rs. Net   PE
    Rs. in Cr. Income Profit Ratio of
      Rs. Rs  
    The IPO Company 0 0 (?)
    Quess Corp   0 175.59
    Team Lease Services     77.48

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