IPO Details

Bidding Dates

09 Jun '23 - 14 Jun '23

Minimum Investment

138,400 / 1 Lots (800 Shares)

Price Range

₹169 - ₹173

Maximum Investment

138,400 / 1 Lots (800 Shares)

Retail Discount

Not Applicable

Issue Size

₹105.14 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jun 9, 2023

IPO Closing Date

Jun 14, 2023

Basis of Allotment

Jun 19, 2023

Initiation of Refunds

Jun 20, 2023

Credit of Shares to Demat Account

Jun 21, 2023

IPO Listing Date

Jun 22, 2023

UPI Mandatory Expiry Date

Jun 14, 2023

IPO Subscription Details


Day 1Jun 9, 2023

1.66 0.20 0.60 0.53

Day 2Jun 12, 2023

2.67 0.55 1.78 1.31

Day 3Jun 13, 2023

2.67 0.58 1.89 1.38

IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutions 2.67
Non-Institutional Buyers** 0.58
Retail Investors 1.89
Total 1.38

About Company

Headquartered in Delhi,and incorporated on May 09, 2012, Spectrum Talent Management Limited is a renowned human resource and staffing service provider. The promoters of the company Mr Vidur Gupta and Mr Sidharth Agarwal have a combined experience of 28 years in the staffing industry. Driven by the passion for building an integrated staffing company, backed by their experience, the promoters have been the pillars of the company's growth and have built a strong value system for the Company. With their enriching experience and progressive thinking, Spectrum Talent Management Limited (STML) aims to continue to grow in the staffing industry.

By 2023, over 275 clients have been served by the company in both domestic and offshore markets. The human resource database is the company's valuable asset, with 15,606 personnel deployed at different locations for clients as of December 31, 2022. The Spectrum Talent IPO is opening on Friday, 9 June 2023 and closing on Wednesday, 14 June 2023. 

Spectrum Talent Management Limited IPO Details

Spectrum Talent Management Limited IPO is a 100% fresh issue of up to 51,85,600 equity shares with face value of ₹10 each. Additionally, the offer has its price band set between ₹169 to ₹173 per share and the lot size is 800. The IPO will list on the NSE.

Spectrum Talent Management Limited IPO Objective 

The objectives of Spectrum Talent IPO are listed below:

  • Funding working capital requirement.
  • Acquisitions of businesses in similar or complementary areas.
  • General corporate purposes.
  • Offer expenses.

Should you invest in Spectrum Talent Management Limited?

Here are a few important factors to consider before investing in the IPO:

  • STML's financial performance over the last three fiscal years has been as follows: In FY20, the company recorded a turnover of Rs. 323.62 cr. and a net profit of Rs. 6.76 cr. In FY21, the turnover decreased to Rs. 302.96 cr. Its net profit also decreased to Rs. 4.76 cr. Finally, in FY22, the turnover increased to Rs. 483.72 cr. while the net profit rose to Rs. 15.53 cr. During the period of 9 months of FY23, which concluded on December 31, 2022, STML did extremely well and achieved a net profit of Rs. 19.98 cr. with a turnover of Rs. 584.16 cr.
  • The company is also currently providing resources on a contract and full-time basis to various State Governments in the United States and to multiple private sector organisations in the fields of pharmaceuticals, healthcare, manufacturing, banking and financial services and IT.
  • The company stands at low leverage.

Competitive Peers

Quess Corp Limited and TeamLease Services Limited are the peer companies listed in India engaged in the same business line. However, they are not truly comparable on an apple-to-apple basis.

Highlights of Spectrum Talent Management Ltd

  • As of the latest information, STML serves more than 275 clients in domestic and offshore markets. The Human Resource database is the key asset for the industry, and as on December 31, 2022, it has 15,606 personnel deployed at various locations for its clients.
  • The company has a wholly-owned subsidiary namely STM Consulting Inc. majorly operating in the USA. Further, it also has a 90% subsidiary namely STM Consulting Limited, majorly operating in the UK. Both entities are engaged in the business of employment placement agencies, temporary employment agency activities and human resources provision and management of human resources functions.
  • STML offers recruitment solutions that are custom-built for specific projects as well as to support employers on an ongoing basis.

Company Financials

Particulars 9 months period ended on December 31, 2022 As at March 31, 2022 As at March 31, 2021
Total Income 58,415.74 48,372.17 30,296.00
Profit After Tax (PAT) 1,997.23 1,551.86 476.41
PAT Margin 3.42% 3.21% 1.57%
EBITDA 3.71% 3.40% 1.83%
EBITDA Margin 3.71% 3.40% 1.83%
Basic EPS 11.15 9.07 10.03
ROE 41.23% 54.89% 24.11%

Know before investing


  1. STML offers a wide array of services such as recruitment, payroll, onboarding and flexible staffing. The company’s comprehensive network, structured processes, professionalism and strong work ethic ensure that it remains at the top on the global scale.

  2. STML satisfies firms' staffing, and recruitment needs globally through specialised rich knowledge.


  1. STML’s top 10 and top 5 customers contributed the majority of its revenues from operations for the financial year 2021-22, 2020-21 and 2019-20. Any loss of business from one or more of them may adversely affect the company’s revenues and profitability.

  2. The company operates in a highly competitive and fragmented industry with low barriers to entry. This can make it unable to compete successfully against existing or new competitors, particularly in the unorganised segment.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Spectrum Talent Management Ltd IPO FAQs

What is Spectrum Talent Management Limited's IPO?

The Spectrum Talent Management  Ltd IPO is an SME IPO of 6,077,600 equity shares of the face value of ₹10 aggregating up to ₹105.14 crores. The price band is set between ₹169 to ₹173 per share.

When will Spectrum Talent Management Limited's IPO allotment be available?

The Basis of Allotment date is Monday, 19 June 2023.

What will be Spectrum Talent Management Limited's IPO lot size?

The lot size for Spectrum Talent Management  Ltd. is 800.

When will Spectrum Talent Management Limited's IPO open for subscription?

The IPO subscription window opens on Friday, 9 June 2023, and closes on Wednesday, 14 June 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

When will Spectrum Talent Management Limited list on exchanges?

Spectrum Talent Management  Ltd. IPO will list on the NSE exchange. The date is not yet announced.

How do I check the allotment status of the Spectrum Talent Management Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Validate with an OTP.
  • Enter your application number, DP ID, and PAN number into the app
  • Click on ‘Submit’ 

What would be the listing gains on the Spectrum Talent Management Limited IPO?

Listing gains cannot be ascertained before listing the IPO on the stock exchange, which is yet to be announced for Spectrum Talent Management  Ltd.

I have finished the application process for the Spectrum Talent Management Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Spectrum Talent Management Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Spectrum Talent Management Limited using one PAN?

You can submit only one application using your PAN card.

What is the minimum order quantity for the Spectrum Talent Management Limited IPO?

The minimum order size for the Spectrum Talent Management  Limited IPO is a minimum of one lot.