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FirstMeridian Business Services Ltd IPO

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IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

About Company

One of the country’s fastest-growing staffing companies, FirstMeridian Business Services Ltd., has filed a prospectus to get listed on the stock exchange. The public offer of Rs 800 crore includes Rs 50 crore in new issues and Rs 730 crore in an offer for sale of equities.

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.Objective 

  • The net proceeds from the new shares will be utilised in repayment and prepayment of certain market borrowing.

Why should you invest in 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.

IPO Financials

Particulars FY21FY20
Revenue From Operation 21,102 20,584
EBITDA 394.14 355.02
EBITDA Margin (%) 1.9 2.1
Profit After TaxNANA
EPSNANA
ROENANA

Know before investing

Strengths

3
  1. The HR staffing sector in the country is highly fragmented, with five large companies controlling 12% of the market, resulting in high growth prospects.

  2. The company leverages technology to offer paperless onboarding using advanced software.

  3. They have an established track record of organic and inorganic growth.

Risks

3
  1. Although fragmented, the staffing industry is highly competitive, impacting the company’s future cash flow.

  2. The company had recorded losses in the past, experiencing negative cash flow arising from the operation, investing, and financial activities.

  3. 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.

Peer Comparison

Company NameTotal Income (in Rs million)P/EEPSDividend Yield
FirstMeridian Business Services Ltd.21,241.76NA4.66-
Quess Corp Ltd.108,820.00175.593.87-
Team Lease Services Ltd.49,162.0077.4845.33-
  • How to Apply in IPO
  • How to Check IPO Allotment Status
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Login to Angel One App / Website & click on IPO

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Select desired IPO & tap on "Apply"

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Accept mandate on the UPI app to complete the process

FirstMeridian Business Services Ltd IPO FAQs

FirstMeridian Business Services Limited IPO offer of Rs 800 crore includes Rs 50 crore in new issues and Rs 730 crore in offer for sale of equities.
Details not available.
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Retail investors can apply for a minimum of one lot.
It usually takes ten working days from the last day of subscription to list the IPO on the bourses.
Angel One customers can log in to their accounts to check FirstMeridian Business Services Ltd. IPO allotment status. When checking the allotment status, keep your application, DP ID, and PAN number ready.
Listing gain is the difference between the IPO's opening and offer prices. The listing gain results from changing investors' interests, global parameters, and short vs long-term outlooks.
The bank initially blocks the amount you bid for an IPO. It will debit the amount when the shares get allotted or unblock it after the UPI mandate expiry date.
Login to your UPI handle and approve the payment mandate to complete the IPO application process.
You can submit only one application using one PAN card.
The minimum size of the application will be one lot.
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