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atianana · 2 months
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Advancements in Wireless Technology: Shaping the Future of Connectivity
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Advancements in Wireless Technology: Shaping the Future of Connectivity
Advancements in Wireless Technology: Shaping the Future of Connectivity
Wireless technology has revolutionized how we communicate, work, and live, continuously evolving to meet the growing demands of our connected world. From the early days of radio waves to the sophisticated networks we rely on today, advancements in wireless technology are driving innovation across various sectors. This post explores some of the most significant developments in wireless technology and their impact on our daily lives.
1. The Rise of 5G Networks
The rollout of 5G networks represents a major leap forward in wireless communication. Offering significantly faster speeds, lower latency, and NEXT >>>
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indovisionglobal · 4 months
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Indovision Services provides specialized telecom staffing and resource augmentation to help businesses enhance their operational efficiency.
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sundus99recruit · 2 years
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Sundus has successfully delivered a complete end to end project to hire Retail Sales Executives from Egypt for a large telecom company in the UAE. The scope included prescreening a large pool of candidates, onsite assessments and presenting the best talent to the Panelists in Cairo, mobilizing the selected candidates observing the covid related protocols, housing them in UAE post mobilization. Egypt has a good talent pool of Bilingual resources across multiple sectors. Sundus can deliver global mobility solutions as a turnkey project for resource requirement across multiple sectors.  
Visit - www.sundus.jobs
#sundus #recruitment  #overseasrecruitment  #manpowerfromegypt #retailstaff #telecomprofessionals #itstaffing #retailstaff #overseasemploymentservices #jobs #uaejobs #recruitment #outsourcing #sales #covid #retail #egypt #telecom
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gwrconsultancy · 2 years
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We have great please to introduce ourselves as GWR Consultancy Private Limited as most versatile company in India are capable to provide total overseas solution & service on foreign principle on following area of consideration :-
•Staffing & Recruitment
•Manpower Service
•Outsourcing workers & Service contract
•HR Consultancy under labour law
In this regard we are providing our services in multiple sector like:-
• IT & Telecom / Healthcare / Insurance / Finance
• Hotels / Resorts / Airport / Restaurants
• Offshore & Shipping
• FMCG / Retails / Sales
• Production / Packaging / Warehouse / Logistic
• Manufacturing & Construction
• Transportation / Drivers / Security
• Farming, Agriculture, Plantation
• Manpower in all sector
We are looking forward to work with you.
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shannybasar · 1 month
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When the 50-year-old Voyager probe stopped sending messages home, Nasa had a problem. No one remembered how to fix it
Another fantastic piece in the Financial Times on how Nasa fixed Voyager 1, which was launched in 1977 and is now the most distant human-made object from our planet, after they stopped receiving a signal from the spacecraft:
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When Voyager broke, the team couldn’t fix it. They did not, for example, have any flight-software engineers. No one remembered the intricacies of its arcane source code. They could not decipher its whimpering messages. They didn’t know how to build a pyramid any more. They needed craftspeople and they needed archives. They call them the tiger team — an elite squadron of experts in software, systems, telecoms and other assorted wizardry plucked from every corner of the Jet Propulsion Laboratory, charged with diagnosing and fixing the anomaly. It was led by Jeff Mellstrom, chief engineer of JPL’s astronomy and physics directorate. He’d also worked at JPL for decades and his own retirement was just a few months away. “I was anxious,” he told me. “I made commitments to people I love.” Along with Dodd, they began recruiting. One by one, the wizards’ phones rang. “You’re not going to believe this, but would you like to work on Voyager?” The lab became a Level 1 trauma ward for a geriatric spacecraft, staffed, in many cases, by greybeards. At least a couple of wizards were lured out of retirement, one of whom first started working on the project before it launched. They were the “freakin’ geniuses” of the lab, as Kareem Badaruddin, the acting Voyager mission manager, told me. JPL was getting the band back together.
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indovisionglobal · 2 months
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Enhance your telecom capabilities with Indovision's staffing and resource augmentation services. Access skilled professionals and tailor your workforce to meet dynamic industry demands for sustained growth and innovation.
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datafield-usa · 3 months
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Hello from Datafield USA
DataField Technology Services specializes in customized design, engineering and consulting services for Fiber Optic Networks, Wireline Infrastructure, Electronic Vehicle Charging Networks, Telecommunications Engineering, Telecom Service and Delivery, Telecom System Research and Engineering and we provide Talent Acquisition & Staffing Services. We service industries such as cable providers, business-to-business infrastructure, cloud service providers, dark fiber providers, datacenters, fiber optic network providers, internet service providers (ISPs), managed service providers, outside plant infrastructure (OSPs), retailers, satellite service providers, smart city initiatives, utility companies, wireless and wireline carriers, and many more.
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bushinge · 5 months
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Exploring Excellence: Top 10 Integrated facility Management Services in India
Introduction:
In the thriving world of facility management services in India, finding the right partner to meet your diverse needs can be a challenge. Amidst the array of options available, Krystal Integrated Services emerges as a beacon of excellence, offering tailored solutions to various sectors. Let's delve into the realm of integrated management services and understand the top ten integrated management services, with a special spotlight on Krystal Integrated Services.
Krystal Integrated Services: Leading the Way in top 10 Integrated Facility Management
Krystal Integrated Services proudly stands as one of India’s leading integrated facilities management companies. With a sharp focus on sectors like healthcare, education, public administration, airports, railways, metro infrastructure, and retail, Krystal caters to a broad customer base across the nation. Their comprehensive range of services encompasses soft services like housekeeping, sanitation, landscaping, and gardening, as well as hard services including mechanical, electrical, and plumbing maintenance, waste management, pest control, and more.
Krystal's commitment to excellence is evident in its tailored solutions, designed to meet each client's specific needs and requirements. By offering a bundled solution of services, Krystal serves as a one-stop destination for integrated facility management, ensuring seamless operations and customer satisfaction.
Exploring other Top 10 Integrated Management Services in India
2. Updater Services (P) Limited (UDS):
UDS stands out for its sustainability-enabled smart facility services, leveraging digital integration and intelligent automation. With over 55,000 employees and a vast geographical footprint, UDS delivers smart cleaning, engineering services, plant maintenance, green building services, and more.
3. Bharat Vikas Group (BVG):
BVG boasts over 75,000 employees serving 800+ sites across 70 cities, offering a wide spectrum of services including total facility management, mechanized housekeeping, waste management, and specialized services like airport maintenance and railway coach cleaning.
4. ISS Facility Services:
With over 55,000 employees managing 180 Mn. Sq. Ft. for 1,100+ clients, ISS provides self-performed integrated facility management solutions including cleaning, food services, security, and Covid-19 solutions.
5. Quess (Avon FMS):
Quess offers technology-enabled staffing and managed outsourcing services across various domains, including integrated facility management services, workforce management, food services, and global technology solutions.
6. SMS CORP:
SMS prides itself on delivering state-of-the-art integrated facility management services with precision and care. With over 16,000 employees and a nationwide presence, SMS offers cleaning, repair and maintenance, energy management, safety, and sustainability solutions.
7. SIS Group Enterprises:
SIS Group offers customized facility management services ranging from housekeeping to HVAC repairs, catering to diverse clients across households, businesses, and industrial establishments.
8. G4S:
As a multinational security services company, G4S provides integrated facility management services alongside security solutions, cash logistics, consulting services, and care and justice services.
9. CB Richard Ellis (CBRE):
CBRE offers operations and maintenance management advisory services, energy and sustainability platform management, real estate accounting services, and more, with a global team of professionals ensuring consistency and efficiency.
10. Tenon FM:
Tenon FM, a global facilities management company, serves industries such as IT/ITes, Telecom, Retail & E-commerce, Healthcare, Education, and Banking & Finance. With services ranging from soft facilities to sanitization, Tenon caters to diverse client requirements worldwide.
In Conclusion
Integrated management services play a vital role in ensuring the smooth functioning of various industries. From Krystal Integrated Services to a myriad of other players, each company brings its unique strengths and solutions to the table. Whether it's sustainability-enabled smart services or precision-driven facility management, these top ten companies exemplify excellence in the realm of integrated management services in India.
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johnthejacobs · 6 months
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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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growelsoftech · 7 months
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Career Boost India: An Incredible Staffing Agency
Are you looking to boost your career or want to fill critical roles in your organization? If yes then end your search here! We are an exceptional staffing agency in India and are always dedicated to connecting talents and opportunities. With proven achievements and commitments to excellence.  Growel Softech stands out as an expert solution for individuals and businesses alike.
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You are most welcome to Growel Staffing Services you are choosing us because of:
Extensive Network: We have a large network across industries including all sectors from healthcare, agriculture, IT, Engineering transport telecom, defense, NGO, and many more…  We have ready-to-work professionals and candidates to make a positive impact on your business.
Personalized Approach: We offer personalization according to the needs of the organization and its requirements. It's our experienced approach to run staffing selection process as a staffing agency. We understand the specific requirements and customized solutions that meet your needs and surpass your expectations.
Industry Expertise: With in-depth knowledge and experience in the recruitment industry and accurate staffing selection process, we are here to serve the evolving demands of business and organization whether you are from agriculture, IT, engineering, or the healthcare sector. We have sufficient insights and sources that can be an asset for you to grow your business.
Quality Assurance: At Growel Softtech there is a compromise with the quality. They continuously screen and assess each candidate to ensure they possess skill, experience, and honesty so they can be the organization's best asset to make them grow.
Efficiency and Reliability: Organisations need reliable solutions so that they can focus on company growth and here we are providing you same. we are the trusted option for a streamlined recruitment process and staffing solutions for you. For your immediate support or ongoing assistance, we provide you with efficient professionalism.
Conclusion:
Growel Softetch is India’s leading staffing agency with top-notch staffing selection process. We can be your partner to navigate you toward success with our extensive network, personalized approach, industry expertise quality assurance, and reliability.
Businesses are thriving in this competitive market. Hence experience the difference with Growel Softtech today!
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acreatyworld · 3 months
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Advantages of enlisting a Recruitment Experts Firm
Planned and methodical approach
Experience across industry functions
Keen understanding of organizational requirements
Extensive candidate pool
Lowered recruitment costs
Talent acquisition and talent management specialists
Proficient at recruitment
Can cater to Pan India needs
Updated technology , skilled staff and infrastructure
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Why Contract Staffing Services Are a Good Option for Your Company's Needs
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Are you looking for a way to meet your business goals without increasing your permanent headcount? Do you need skilled workers for a short-term project or a seasonal peak? If yes, then contract staffing services might be the solution for you.
Contract staffing services is a hiring arrangement where individuals are hired only on terms specifically set out in a contract. It usually refers to a fixed-term or project-based, rather than permanent, hiring arrangement. In many cases, it is arranged by a third party staffing agency
Contract staffing services can benefit your business in many ways, such as:
Cost savings: 
Hiring contract workers can help you save money on wages, benefits, taxes, training, and recruitment expenses. For the term of the contract, you only pay for the work completed. Because you may modify the number of contract workers in accordance with your demands, you also eliminate the risk of either overstaffing or understaffing.
Flexibility: 
A pool of skilled and knowledgeable employees is available to you to cover the skill shortages in your team. Additionally, you can scale your staff up or down based on project requirements and market demand. If the performance or fit is not up to par, you may also quickly end the contract.
Quality: 
Hiring contract employees with the necessary abilities, know-how, and experience for the position can help you guarantee the calibre of the work. You can also keep an eye on their performance, assess it, and give them comments on a regular basis. In order to locate the greatest personnel for your company, you can also take advantage of the staffing agency's knowledge.
Compliance: 
A reputable staffing agency can handle the legal and regulatory burdens associated with recruiting permanent personnel, saving you the trouble. For contract workers, the staffing agency will handle all contract terms, wages, taxes, benefits, and regulatory compliances. By establishing an open and unambiguous contract with the hiring agency and the contract workers, you can also lower the chance of litigation and disagreements.
If you are looking for a reliable and professional contract staffing services provider, you can contact Weavings, one of the leading staffing companies in India. Weavings offers end-to-end contract staffing solutions, from sourcing, screening, hiring, training, deploying, managing, and retaining the contract workers. We have expertise in various sectors, such as BFSI, Engineering, Manufacturing, Media, Entertainment, Infrastructure, FMCG, FMCD, Telecom, Retail, Ecommerce, Logistics, Hospitality, and Healthcare. 
To know more about our contract staffing services, visit our website 
www.weavings.in/.
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indovisionglobal · 3 months
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Benefits of Improving Average Handle Time
Building a good customer experience doesn’t happen by chance but by design. More than interacting with customers, agents must spend quality time on research, post-call tasks, and everything in between. 
Average Handle Time (AHT) is one of the quality standards measured by call centers to review the performance of different campaigns. Major call center solutions measure AHT as one of the KPIs.
What’s the “standard” AHT for a call center?
AHT not only varies from industry to industry but also from one organization to another as well as from process to process. It depends on an organization’s structure, its products (or services), as well as what’s the definition of a “good” customer experience for the organization.
However, the standard AHT for a call center measured in the call center software is typically considered to be about five to seven minutes.
As per Call Centre Magazine, the industry-standard AHT is six minutes and ten seconds.
Another report by Cornell found:
Large businesses have an AHT of eight minutes and 48 seconds.
The telecom sector has an AHT of eight minutes and 30 seconds. 
The retail sector has an AHT of five minutes and 24 seconds.
The AHT benchmark for financial services as well as the business and IT sector is four minutes and 45 seconds.
Benefits of Improving Average Handling Time
When it comes to enhancing AHT using one of the best call center solutions, it can provide a lot of benefits to call centers as well as the management of teams and agents. Here are some of the key benefits of enhancing AHT.
1. Decline in call abandoned rates
Did you know that longer handling time can increase call abandon rates? 
When an agent takes more time to handle a customer, it often increases wait times for other callers. 
When the wait time becomes unusually long then the callers tend to abandon their calls, which negatively impacts customer satisfaction scores as well as the organization’s business opportunities. When call centers focus on optimizing AHT, they not only can reduce call abandon rates but also retain more customers.
2. Enhanced efficiency and productivity
A reduced AHT measured in call center software means agents can handle more customer interactions in a certain period and resolve customer issues at a faster rate. 
This increased efficiency, which results in higher efficiency and productivity, allows call centers to handle higher call volumes and serve more customers without compromising service quality.
3. Improved customer experience 
With improved AHT, customers spend less time waiting and have their issues resolved more quickly. This leads to higher customer satisfaction levels and an improved overall experience with the call center. 
The right AHT measured in call center solutions provides customers with a faster and more efficient support experience.
4. Increased first-call resolution
First Call Resolution (FCR) rates and AHT go hand in hand, which is why both of these metrics are measured in call center solutions. With improved AHT, call centers can enhance their FCR. Agents have more time to listen to customers, gather relevant information, and address issues comprehensively, reducing the need for customers to call back for further assistance.
An optimized AHT allows agents to focus on resolving customer issues promptly. They can dedicate more time to understanding customer needs, providing accurate information, and delivering effective solutions, resulting in faster issue resolution.
5. Cost savings
An optimized AHT translates into cost savings for call centers. By reducing the average time spent on each call, call center operations become more efficient, which enables the organization to serve more customers with the same resources or reduce staffing requirements. 
Apart from that, call centers can cut operational costs, boost profitability, and enhance their bottom line.
6. Better agent engagement and satisfaction
Agents who can handle customer interactions efficiently and resolve issues more quickly experience higher job satisfaction using the best call center software.
It also increases agents’ morale. Improved AHT means less time dealing with prolonged or repetitive calls, which reduces agent frustration and enables them to focus on meaningful customer interactions.  AC InfoSoft offers the best call center solutions that offer excellent features that can help you improve agent call handle time. All call center solutions of the company are explained here: https://www.acinfosoft.com/call-center-solutions/
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infinitiresearch · 9 months
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Europe Workforce Management Software Market| Analysis, Growth and Forecast, 2023 – 2027
Originally published on Technavio: Europe Workforce Management Software Market by Deployment and End-user - Forecast and Analysis 2023-2027
The Europe workforce management software market is poised for substantial growth, with a forecast period spanning from 2023 to 2027. Workforce management software plays a crucial role in optimizing human resource processes, enhancing efficiency, and improving overall organizational productivity. The market's growth is driven by factors such as increasing awareness of the benefits of workforce management solutions, the need for streamlined HR operations, and the growing trend of digital transformation across various industries.
In terms of deployment, both on-premise and cloud-based solutions are gaining traction in the European market. On-premise solutions offer companies control over their data and security, which is particularly crucial for industries with stringent regulatory requirements. However, the cloud-based workforce management software is witnessing rapid adoption due to its scalability, flexibility, and cost-effectiveness. Small and medium-sized enterprises (SMEs) are particularly inclined towards cloud solutions as they often provide a more accessible entry point.
The end-user landscape of the Europe workforce management software market is diverse, encompassing various sectors such as healthcare, retail, manufacturing, IT and telecom, and others. The healthcare sector, in particular, is expected to be a significant contributor to market growth, as workforce management software helps in optimizing staff schedules, ensuring compliance with regulations, and improving patient care.
The retail sector is another key end-user, leveraging workforce management solutions to manage complex staffing requirements, streamline employee scheduling, and enhance customer service. Manufacturing industries are adopting workforce management software to improve production planning, optimize labor resources, and ensure efficient operations. The IT and telecom sector benefits from workforce management tools for managing a diverse workforce and addressing complex scheduling requirements.
The forecast period is characterized by an increased focus on innovation, with software vendors continuously introducing new features and functionalities to meet the evolving needs of organizations. Artificial intelligence (AI) and machine learning (ML) are expected to play a significant role in enhancing workforce management capabilities, offering predictive analytics for better workforce planning and decision-making.
To Learn deeper into this report , View Sample PDF
Challenges such as data security concerns, integration complexities, and resistance to change are factors that could impact the adoption rate of workforce management software in the European market. However, as organizations increasingly recognize the benefits of these solutions in optimizing workforce-related processes and improving overall operational efficiency, the market is expected to witness sustained growth throughout the forecast period. Overall, the Europe workforce management software market presents a dynamic landscape with opportunities for vendors to cater to the diverse needs of organizations across different industries.
For more information please contact.
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wealthview · 9 months
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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
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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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