Public Market IPO
Staffing firm First Meridian files for Rs.800-cr IPO
Staffing company First Meridian Business Services Ltd has filed to raise Rs 800 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 50 crore and an Offer for Sale (OFS) aggregating up to Rs 750 crore by promoters and existing shareholders.
The company has proposed to utilise the net proceeds from the fresh issue towards the payment of debt and general corporate purposes. JM Financial, DAM Capital Advisors, Edelweiss Financial Services and IIFL Securities are the book running lead managers to the issue.
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From the Venture Intelligence PE-VC Deal Database: In Jul-20, First Meridian had raised funding from Janchor Partners,Samara Capital and Goldman Sachs. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)