ArdorComm Media News Network
January 5, 2026
Chennai-based CIEL HR Services has raised ₹30 crore from a group of 88 investors in a pre-IPO funding round, with participation from Zoho Corporation, Pegasus India, and Standard Fireworks, as the company gears up for its proposed public listing.
In an official disclosure, the human resources solutions firm said it allotted 27,27,272 equity shares at ₹110 per share, aggregating the total fundraise to ₹30 crore. The pre-IPO placement received board approval on November 17, followed by shareholder clearance at an extraordinary general meeting on November 28.
Alongside Pegasus India Evolving Opportunities Fund, Zoho Corporation and Standard Fireworks, the investor base includes prominent names such as Rajashekar Reddy Seelam (founder of 24 Mantra Organic), Prime Securities, KTV Kannan of KTV Group, Sri Kaliswari Fireworks, the Pothys family office, AIKYAM Capital, NS Rajan, and leadership expert Abhijit Bhaduri, among others.
As per its draft red herring prospectus (DRHP), CIEL HR Services’ IPO will consist of a fresh issue worth ₹335 crore along with an offer for sale (OFS) of 47.4 lakh shares by promoters and other existing shareholders.
The company plans to deploy the fresh issue proceeds to increase its stakes in subsidiaries including Firstventure Corporation, Integrum Technologies, Next Leap Career Solutions, People Metrics, and Thomas Assessments. Funds will also be used to meet working capital needs, pursue inorganic growth opportunities, and cover general corporate expenses.
Additionally, CIEL intends to invest in five subsidiaries—CCIEL Skills and Careers, FirstVenture Corporation, Integrum Technologies, Ma Foi Strategic Consultants, and Next Leap Career Solutions—to strengthen and scale their learning and talent development platforms.
Founded in Chennai, CIEL HR Services provides a technology-led, end-to-end HR solutions portfolio, covering the entire employee lifecycle, from talent acquisition and assessment to learning, skilling, and workforce management.
Source: PTI