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FirstMeridian Business Services IPO
According to a prospectus filed by Pristine Logistics and Infraprojects Limited, the company’s IPO is a combination of fresh shares up to Rs 250 core and an offer for sale of over two crore equities from the company’s promoters. The company is one of the major multi-modal logistics players in India.
Opening Date
To be announced
Closing Date
To be announced
Price Band
To be announced
Issue Size
To be announced
Face Value
To be announced
Market Lot
To be announced
Opening Date
To be announced
Closing Date
To be announced
Price Band
To be announced
Issue Size
To be announced
Face Value
To be announced
Market Lot
To be announced
Listing at NSE, BSE
FirstMeridian Business Services Ltd. IPO Important Dates
| IPO Open Date | To be announced |
|---|---|
| IPO Close Date | To be announced |
| Allotment Date | To be announced |
| Initiation Of Refunds | To be announced |
| Credit Of Shares To Demat Account |
To be announced |
| IPO Listing Date | To be announced |
| UPI Mandate Expiry Date | To be announced |
About FirstMeridian Business Services Ltd.
FirstMeridian Business Services is the country’s third-largest staffing company in terms of revenue in FY21. They are involved in offering a wide range of staffing services, including general staffing and allied service, global technology solutions, and other HR services.
They have 50 offices in 75 cities, catering to 1,212 clients, including Indian and global clients, as per data available for March 31, 2022.
FirstMeridian Business Services Ltd. IPO Objectives
• The net proceeds from the new shares will be utilised in repayment and prepayment of certain market borrowing.
Why should you invest in the FirstMeridian Business Services Ltd. IPO?
Here are our top reasons:
- They have a large geographical presence with 1212 clients, of which 923 are from the general staffing and allied services, 100 from global technology solution services and 189 from other HR services.
- The staffing company caters to telecommunications, retail, BFSI and construction and infrastructure industries, meaning their revenue doesn’t depend on a single source.
- FirstMeridian Business Services has made several strategic acquisitions that helped in the organic and inorganic growth of the company and expanded its revenue.
Financial Highlights
| Particulars | For the year/period ended (₹ in million) | ||
|---|---|---|---|
| FY21 | FY20 | FY19 | |
| Revenue From Operation | 21,102 | 20,584 | 13,984 |
| EBITDA | 394.14 | 355.02 | 98.18 |
| EBITDA Margin (%) | 1.9 | 2.1 | 0.6 |
| Profit After Tax | NA | NA | NA |
| EPS | NA | NA | NA |
| ROE | NA | NA | NA |
How to apply for FirstMeridian Business Services Ltd. IPO?
Retail investors need to apply for the IPO using UPI.
UPI
- Link your bank account to a UPI ID.
- Register your UPI id with your Demat account.
- Subscribe for FirstMeridian Business Services Ltd. IPO and approve the payment on your UPI ID.
Demat Account
- If you are an existing Angel One user, Pre-Apply Now!
- If you’re a new investor, open an Angel One Demat account for free and begin your investment journey.
FirstMeridian Business Services Ltd. IPO Noteworthy Highlights:
- Revenue generated from telecommunications, retail, BFSI and construction and infrastructure industries as on December 31, 2022, was 23.81%, 22.70%, 14.03%, and 9.78%.
- The CAGR from revenue from operation for the period between February 20, 2018, to March 31, 2019, to March 31, 2021, was 22.84%.
The Brand’s Pros & Cons:
| Pros | Cons |
|---|---|
| The HR staffing sector in the country is highly fragmented, with five large companies controlling 12% of the market, resulting in high growth prospects. | Although fragmented, the staffing industry is highly competitive, impacting the company’s future cash flow. |
| The company leverages technology to offer paperless onboarding using advanced software. | The company had recorded losses in the past, experiencing negative cash flow arising from the operation, investing, and financial activities. |
| They have an established track record of organic and inorganic growth. | Investors applying for the IPO must understand that the business is subject to extensive government regulations, which might impact the company’s ability to provide certain services. |
Competitive Peers
The company continues to face competition from listed and unorganised peers. Here is a competitive analysis of FirstMeridian Business Services Ltd. with its listed peers.
| Company Name | Total Income (in Rs million) | P/E | EPS |
|---|---|---|---|
| FirstMeridian Business Services Ltd. | 21,241.76 | NA | (4.66) |
| Peer Group | |||
| Quess Corp Ltd. | 108,820.00 | 175.59 | 3.87 |
| Team Lease Services Ltd. | 49,162.00 | 77.48 | 45.33 |
FirstMeridian Business Services Ltd. IPO FAQs
What is FirstMeridian Business Services Ltd. IPO?
When will FirstMeridian Business Services Ltd. IPO allotment be available?
What will be FirstMeridian Business Services Ltd. IPO lot size?
When will FirstMeridian Business Services Ltd. IPO open for subscription?
What minimum lot size can retail investors subscribe to?
When will FirstMeridian Business Services Ltd. list on exchanges?
How to check the allotment status of FirstMeridian Business Services IPO?
When checking the allotment status, keep your application, DP ID, and PAN number ready.
What would be the listing gains on FirstMeridian Business Services Ltd. IPO?
The listing gain results from changing investors' interests, global parameters, and short vs long-term outlooks.
I have finished the application process for FirstMeridian Business Services Ltd. IPO, but the funds are not yet debited. What is the reason?
How to approve the UPI mandate request for the FirstMeridian Business Services Ltd. IPO?
Can I submit more than one application for the public issue of FirstMeridian Business Services Ltd. using one PAN?
What is the minimum order quantity for FirstMeridian Business Services Ltd. IPO?
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