Technology-driven human resources solutions provider CIEL HR Services has received approval from the Securities and Exchange Board of India for its proposed initial public offering, according to a notification by SEBI on Friday.
The proposed IPO includes a fresh issue of equity shares worth 3.35 billion Indian rupees and an offer for sale component of 4.7 million shares by promoters and other selling shareholders, according to the draft red herring prospectus filed by the company in November 2024.
As per the update, the capital markets regulator also issued an observation letter to the company on Feb. 14.
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