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    Home»News»HR Firm Genius Consultants gets SEBI’s nod to float IPO
    News

    HR Firm Genius Consultants gets SEBI’s nod to float IPO

    mmBy Prajjal Saha | HRKathaJune 12, 20181 Min Read5142 Views
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    Genius Consultants’ IPO comprises fresh equity worth Rs 170 crore, besides, one million shares of promoter Rajendra Prasad Yadav.

    HR firm Genius Consultants has got Sebi’s approval to float initial public offerings.

    Genius Consultants is a 24 year old company and provides services for flexi staffing, permanent staffing, payroll processing, background check, compliance management, HRMS and payroll software and facility management.

    Genius Consultants obtained Sebi’s “observations” on June 4.

    The company had filed its draft papers with the regulator in March.

    Sebi’s observations are necessary for any company to launch public offers such as rights issue, initial public offer (IPO) and follow-on public offer (FPO).

    Going by the draft papers, Genius Consultants’ IPO comprises fresh equity worth Rs 170 crore, besides, one million shares of promoter Rajendra Prasad Yadav.

    Proceeds of the issue will be utilised for strategic acquisitions and similar initiatives; upgrading information technology infrastructure, setting up branch offices and working capital requirements.

    SBI Capital Markets and Yes Securities (India) are merchant bankers managing the IPO.

    With this, the total number of companies that received Sebi’s approval to launch initial share-sales reached 22 so far this year.

     

    Genius Consultants IPO SEBI
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    Prajjal Saha | HRKatha

    Dr. Prajjal Saha, editor and publisher of HRKatha since 2015, leverages over 25 years of experience in business journalism, writing, and editing. He founded HRKatha to provide insightful analysis on the evolving workplace. With expertise spanning HR, marketing, distribution, and technology, Saha has a deep understanding of business dynamics. His authorship of the acclaimed Marketing White Book highlights his versatility beyond HR. A trusted voice across industries, his clear and thoughtful commentary has earned him a reputation for thought leadership, making him a reliable source of knowledge and insights for professionals navigating the complexities of the business world.

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