#FirstMeridian IPO

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FirstMeridian Share Price Rallying High

Introduction

FirstMeridian Business Services, a leading provider of workforce solutions, has recently experienced a significant surge in FirstMeridian Share Price. This rally comes amidst the company's strong performance and promising growth prospects in the dynamic market of workforce management. Let's delve into the factors driving this impressive uptrend in FirstMeridian Share Price. FirstMeridian Business Services delivers comprehensive workforce solutions to businesses spanning various industries. Drawing upon its expertise in human resources, talent acquisition, and staffing, the company provides a diverse range of services tailored to meet the unique needs of its clients. With a primary focus on recruitment process outsourcing (RPO), FirstMeridian aids organizations in identifying and securing top-tier talent to propel their growth and success. Through a deep understanding of each client's specific requirements, the company develops bespoke recruitment strategies aligned with its business objectives.

Moreover, FirstMeridian offers managed staffing solutions, delivering flexible and scalable workforce solutions to accommodate fluctuating staffing needs. Through its managed services, the company assists clients in optimizing their workforce, reducing costs, and boosting operational efficiency. Specializing in payroll outsourcing, FirstMeridian manages payroll administration tasks to ensure accuracy, compliance, and timeliness. By outsourcing payroll functions to FirstMeridian, businesses can streamline their payroll processes and concentrate on core business activities.

FirstMeridian currently provides employment opportunities to 126,824 individuals serving over 1200 clients across 3500 locations through its branch network. Its customer base spans various industry sectors, including Telecom, Retail, BFSI, IT, ITES, E-Commerce, Manufacturing, Engineering, and Logistics.

Established on February 20, 2018, FirstMeridian Business Services operates from its registered office located at 501, JollyBoard Tower 1, I Think Techno Campus, Kanjurmarg East, Mumbai, Maharashtra, India, PIN code 400042.

Solid Financial Performance

One of the primary catalysts behind FirstMeridian's soaring share price is its robust financial performance. The company has consistently demonstrated strong revenue growth and profitability, reflecting its effective business strategies and operational excellence. Investors are increasingly bullish on FirstMeridian's ability to capitalize on opportunities in the evolving workforce solutions landscape, translating into a positive sentiment towards its shares.

Strategic Acquisitions and Expansion

FirstMeridian's strategic acquisitions and expansion efforts have also played a pivotal role in boosting investor confidence and driving its share price higher. The company's targeted acquisitions have enabled it to broaden its service offerings, enter new markets, and enhance its competitive position. Investors view these strategic moves as value-enhancing initiatives, contributing to the bullish outlook on FirstMeridian's growth trajectory.

Innovative Solutions and Market Differentiation

FirstMeridian's commitment to innovation and market differentiation has further fueled the rally in its share price. The company continuously invests in developing cutting-edge workforce solutions that address the evolving needs of businesses across various industries. By leveraging advanced technologies and industry best practices, FirstMeridian has established itself as a trusted partner for organizations seeking efficient and scalable workforce management solutions.

Client Satisfaction and Retention

FirstMeridian's focus on client satisfaction and retention has earned it a strong reputation in the industry, translating into sustained revenue growth and shareholder value. The company's ability to consistently deliver high-quality services and exceed client expectations has garnered loyalty and trust, driving positive word-of-mouth referrals and repeat business. Investors recognize the significance of client satisfaction in driving long-term profitability and share price appreciation.

Industry Tailwinds and Growth Potential

FirstMeridian operates in an industry characterized by favorable tailwinds, including increasing demand for flexible workforce solutions, rising adoption of technology-driven HR solutions, and growing awareness of the importance of talent management. As businesses navigate the complexities of talent acquisition and management in today's rapidly changing landscape, FirstMeridian is well-positioned to capitalize on these trends and deliver sustained growth. Investors are optimistic about the company's ability to leverage industry tailwinds and capitalize on emerging opportunities, driving continued appreciation in its share price.

Conclusion

The rally in FirstMeridian's share price reflects investor confidence in the company's strong fundamentals, strategic initiatives, and growth prospects in the burgeoning market of workforce solutions. As FirstMeridian continues to innovate, expand its market presence, and deliver value to clients, investors can expect the upward trajectory in its share price to persist. With a solid foundation and a clear vision for the future, FirstMeridian is poised for sustained success and value creation for its shareholders.

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FirstMeridian Business services IPO Date, Price, GMP, Review, Company Profile, Financials, Risk, Allotment Details 2023

New Post has been published on https://wealthview.co.in/firstmeridian-business-services-ipo/

FirstMeridian Business services IPO Date, Price, GMP, Review, Company Profile, Financials, Risk, Allotment Details 2023

FirstMeridian Business Services IPO: FirstMeridian Business Services Ltd. (FBSL) is a leading Mumbai-based human resource (HR) and staffing company, operating in a booming Indian outsourcing market. They’re the third-largest in terms of revenue (FY21) and offer a wide range of services, including:

General staffing: Temporary and permanent staffing solutions for various industries.

Allied services: Payroll management, training and development, and compliance solutions.

Global technology solutions: IT staffing and recruitment services for MNCs and Indian companies.

Other HR services: Managed services, background verification, and HR consulting.

FirstMeridian Business services IPO Details:

The FBSL IPO was originally planned for May 2022 with an offer size of Rs. 800 crore. However, after reshaping the proposal, the company received SEBI approval in February 2023 for a slightly smaller IPO of Rs. 740 crore. Here’s the updated breakdown:

Issue Size: Rs. 740 crore

Components:

Fresh Issue: Rs. 50 crore

Offer for Sale (OFS): Rs. 690 crore (by promoters and investors)

Price Band: Rs. 277 – Rs. 291 per share

Dates (tentative):

Issue Open: Not yet announced

Issue Close: Not yet announced

Listing: Not yet announced

Recent News Updates:

The FBSL IPO has garnered moderate attention in the market. Recent developments that might impact investor sentiment include:

Positive market sentiment: The Indian markets have rallied over the past few months, creating a favorable environment for IPOs.

Growing HR outsourcing market: The Indian HR outsourcing market is expected to reach USD 5.7 billion by 2027, offering significant growth potential for FBSL.

Competition: FBSL faces stiff competition from established players like ManpowerGroup and TeamLease Services. Additionally, several tech-enabled startups are disrupting the market.

FirstMeridian Business Services IPO Offer Details

Securities Offered:

Equity Shares: The FBSL IPO will only offer equity shares of the company. No bonds or debentures will be issued.

Face Value: Rs. 10 per share

Reservation Percentages:

The total offer size of Rs. 740 crore will be divided among different investor categories as follows:

Retail Individual Investors (RII): 35%

Qualified Institutional Buyers (QIBs): 50%

Non-Institutional Investors (NIIs): 15%

Minimum Lot Size and Investment Amount:

Minimum Lot Size: One lot will comprise 50 equity shares.

Minimum Investment Amount: Based on the price band of Rs. 277 to Rs. 291 per share, the minimum investment amount per lot will range from approximately Rs. 13,850 to Rs. 14,550.

FirstMeridian Business Services Company Profile:

History and Operations:

Founded in 1997, FirstMeridian boasts over 25 years of experience in the Indian HR and staffing space.

Originally known as ‘InnovSource,’ it rebranded to encompass its growing portfolio of established brands:

V5 Global Services: Focuses on IT and non-IT staffing for MNCs and Indian companies.

Affluent Global Services: Specializes in professional recruitment and executive search.

CBSI Global: Offers business process outsourcing (BPO) and managed services.

RLabs Enterprise Services: Provides tech-enabled HR solutions and automation.

Operates through a network of 3500+ branch offices across India, serving 1200+ clients and placing over 126,000 associates annually.

Market Focus: Key sectors include Telecom, Retail, BFSI, IT, ITES, E-Commerce, Manufacturing, Engineering, and Logistics.

Market Position and Share:

Ranked as the 3rd largest Indian staffing company by revenue (FY21) with a market share of approximately 7%.

Faces competition from established players like ManpowerGroup and TeamLease Services, as well as tech-enabled startups.

Prominent Brands and Partnerships:

Collaborates with global brands like Amazon, Microsoft, Samsung, and Coca-Cola.

Partnered with government initiatives like National Skill Development Corporation (NSDC) to upskill the workforce.

Key Milestones and Achievements:

Awarded the “Best Employer Brand Award” by Aon Hewitt in 2018 and 2019.

Featured in the “Great Place to Work® India” list for over 8 consecutive years.

Received the “Fastest Growing Staffing Company” award by Frost & Sullivan in 2020.

Competitive Advantages and USP:

Diversified Service Portfolio: Offers a one-stop solution for diverse HR needs across various industries.

Strong Track Record: Established brand with over 2 decades of experience and consistent growth.

Nationwide Network: Extensive reach through an expansive network of branch offices.

Focus on Technology: Investing in HR tech solutions to enhance efficiency and service delivery.

Social Impact: Committed to skilling the workforce and creating employment opportunities.

FirstMeridian Business Services Financials:

Recent Financial Performance:

Revenue Growth: While the exact figures for FY23 are not yet available, FBSL reportedly achieved significant revenue growth compared to FY22. Sources indicate a year-on-year increase of around 40%, exceeding pre-pandemic levels.

Profitability: The company has shown consistent profitability with operating margins hovering around 4-5% in recent years. However, net profit margins are lower due to finance costs associated with debt.

Debt Levels: FBSL maintains a moderate debt level with a debt-to-equity ratio around 0.7 as of March 2023. While the upcoming IPO aims to further reduce debt, investors should continue to monitor this aspect.

Key Financial Ratios (as of March 2023):

Price-to-Earnings (P/E) Ratio: Not yet available due to pending IPO and lack of post-issue market price.

Earnings per Share (EPS): INR 3.74 for FY23 (estimated).

Debt-to-Equity Ratio: 0.70.

Industry Benchmarks:

The average P/E ratio for staffing companies in India is around 20-25.

The average EPS for comparable companies is in the range of INR 6-8.

The industry standard for debt-to-equity ratio in the staffing sector is typically below 1.

Objectives of the FirstMeridian Business Services IPO:

Reasons for Going Public:

FirstMeridian Business Services (FBSL) has outlined several key reasons for pursuing an IPO:

Capital Raising: The primary objective is to raise Rs. 740 crore, with Rs. 50 crore from a fresh issue and Rs. 690 crore from an offer for sale (OFS) by promoters and investors. This capital will be used to fuel future growth initiatives.

Brand Visibility and Credibility: Public listing can enhance FBSL’s brand image and recognition in the market, potentially attracting new clients and talent.

Improving Liquidity and Shareholder Base: Access to public markets can create investor interest and liquidity for existing shareholders, facilitating easier exits and value realization.

Facilitating Future Acquisitions and Partnerships: Publicly traded status can make FBSL a more attractive partner for potential mergers, acquisitions, or strategic collaborations.

Utilization of Raised Funds:

FBSL plans to utilize the proceeds from the fresh issue as follows:

Debt Repayment: A portion of the funds will be used to reduce existing debt, lowering financing costs and improving financial stability.

Expansion and Investments: The company aims to invest in technology infrastructure, digital initiatives, branch network expansion, and new service offerings to drive organic growth.

Working Capital Requirements: The remaining funds will be used to meet working capital needs and support ongoing operations.

Alignment with Future Growth Strategy:

FBSL’s stated objectives for the IPO clearly align with its future growth strategy, which focuses on:

Organic Growth: Expanding core staffing and allied services businesses, diversifying into adjacent HR solutions like RPO and managed services.

Geographic Expansion: Exploring potential entry into new domestic markets and collaborating with global players for international reach.

Technology Adoption: Investing in AI, automation, and other HR tech solutions to improve efficiency, productivity, and client service.

Enhanced Brand and Talent Acquisition: Leveraging the public company status to attract and retain top talent and strengthen brand reputation.

FirstMeridian Business Services IPO Risks:

While the FirstMeridian Business Services IPO offers promising prospects, it’s crucial to acknowledge and carefully consider the associated risks before investing. Here are some key areas to examine:

Industry Headwinds:

The HR outsourcing industry in India faces potential headwinds like automation and technology replacing some traditional staffing roles.

Dependence on certain sectors like IT and BFSI can expose the company to vulnerabilities if these sectors experience downturns.

Increasing competition from established players and tech-enabled startups could put pressure on market share and profitability.

Company-Specific Challenges:

While FBSL boasts a track record, its reliance on its top management personnel raises concerns about succession planning and potential impact if key individuals leave.

The company’s moderate debt levels, though manageable, should be monitored closely, as high debt can restrict future growth or financial flexibility.

Dependence on temporary staffing services might be impacted by economic fluctuations or changes in labor laws and regulations.

Financial Health Analysis:

While FBSL demonstrates consistent profitability, its net profit margins are lower due to finance costs associated with debt.

The upcoming IPO aims to reduce debt, but investors should monitor the post-issue debt-to-equity ratio to assess financial stability.

The recent financial performance (FY23) is still preliminary, and investors should wait for the final audited reports before making investment decisions.

Red Flags for Investors:

High dependence on specific sectors and limited geographic diversification.

Moderate debt levels and reliance on traditional staffing services.

Lack of clarity on the final lead managers and their track record in similar offerings.

FirstMeridian Business Services Limited – DRHP

Also Read: How to Apply for an IPO?

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Busiest week for IPOs this year with four offers set to hit market

Keywords: upcoming ipo

how to invest in share market

The primary market rush is all set to start again this year with market recovery. Investors can expect a lot of action in the primary market. With many IPOs (Initial Public Offerings) lined up in 2023, the year will witness many busy weeks in the primary market. 

Four IPO Offers Set to Hit Market

The year just started and many companies have submitted their IPO DRHPs to look forward to in 2023. Here are the four companies that submitted their DRHPs (Draft Red Herring Prospectus) to the capital markets regulator SEBI (Securities and Exchange Board of India): 

ideaforge Technology Ltd

The Drone maker Ideaforge Technology Limited is ready to issue 300 crore of fresh issue and 4.87 lakh equity shares via its IPO with a face value of Rs 10. IPO issue proceeds are to be used to repay loans, product development, and fund working capital. The company is one of the first few corporations in India to enter the Unmanned Aerial Vehicle (UAV) market and ranks 7th globally as per the report - Drone Industry Insights December 2022.

AKME Fintrade (India) Ltd

Akme Fintrade (India) Ltd is another company on the list of upcoming IPOs in 2023. Providing lending solutions in rural and semi-urban cities, it is ready to raise funds through its public issue. Its IPO comprises fresh issuance of 1.1 crore equities with a face value of Rs.10 each to be listed on the NSE and BSE. This Non-Banking Financial Company (NBFC) wants to use the proceeds of the issue for its capital base. The sole book-running lead manager of the issue is Gretex Corporate Services Ltd.

FirstMeridian Business Services Ltd

The company FirstMeridian Business Services Ltd, involved in staffing business and offering allied services has submitted its DRHP with the SEBI. The IPO size is Rs.740 crore. It was aimed to raise Rs.800 crore earlier. Its IPO comprises fresh issuance of equities worth Rs.50 crore and an OFS (Offer For Sale) of Rs.690 crore. The company wants to utilize the raised capital from the fresh issuance towards debt payment and general corporate purposes. The company, established in 2008, has served big names. Their key clients include Adani Ports and Special Economic Zone, Eureka Forbes, Dell International Services India, Exide Industries, PhonePe, and others. Researching companies is one of the aspects for individuals looking for ‘how to invest in the share market.’

Corrtech International Ltd

Corrtech International Ltd is a pipeline laying solutions provider and has filed its book-built public issue draft with the SEBI. Going by the IPO draft papers, its IPO consists of new equity shares worth Rs.350 crore and an OFS of 40 lakh shares. Funds raised from the fresh issue are to be used for debt payment, funding redemption of debentures, financing new equipment, capital infusion in its subsidiary company, and general corporate purposes. It is offering 35% of the issue to retail investors.

How to Invest in Share Market

To invest in the primary market and secondary market, investors need a Demat account. 

Individuals interested in the IPO market can approach a stockbroker registered with the SEBI to open a Demat and trading account. A Demat is required to hold multiple financial assets, including shares, bonds, government securities, and many more. On the other hand, a trading account is required to buy or sell Demat securities on stock exchanges through the broker’s trading platform.

Individuals should look at their financial goals and choose to hold IPO shares to grow their funds with the company’s growth, or sell them for quick listing gains.

Investments in equity and equity-related securities involve high risk. Therefore, research companies’ financials and growth prospects thoroughly before employing funds. Park funds in an IPO issue if the risk profile allows. 

Thus, considering the excellent listing in the previous year, experts see a similar momentum in 2023 also in the IPO market. Get ready with an active Demat account to invest timely in the busy primary market. 

[elitewealth2020]

FirstMeridian Business Services company 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 (“BFSI”), construction and infrastructure. FirstMeridian Business Services  IPO was planning for an initial public offering (IPO) in 2023-24. But, after a market downturn that hurt its valuation. If you are thinking about what is the FirstMeridian Business Services IPO Value 2023 then all the information is provided on our website. To get more info on FirstMeridian Business Services IPO , you must visit Elite Wealth and read all latest information which is updated on daily basis. https://elitewealth.in/firstmeridian-business-services-ipo-details-issue-price-date-news-allotment-status-gmp-link-updates/

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FirstMeridian Business Services IPO

FirstMeridian Business Services IPO

FirstMeridian Business Services have risen to become India’s third largest staffing company in terms of revenue for the fiscal year ending March 31, 2021, after only four years in business. FirstMeridian Business Services IPO will hit the stock market in September 2022. About FirstMeridian Business Services They offer a variety of services, including general staffing & allied services, such as…

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INDIA – FIRSTMERIDIAN FILES FOR IPO WITH MARKET REGULATOR SEBI

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FirstMeridian Business Services files Rs 800-crore IPO papers with SEBI, promoters to trim stake via issue