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Healthtech startup Even Healthcare raises $20 Mn to expand hospital network & scale outcomes-led care model

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L-R: Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, co-founders, Even Healthcare

Bengaluru-based managed-care start-up Even Healthcare has secured $20 million in a fresh funding round led by existing investors Lachy Groom and Alpha Wave, with Sharrp Ventures joining as a new backer, as the company accelerates plans to expand its hospital network and scale its outcomes-led care model.

With this infusion, Even Healthcare’s total funding now stands at $70 million, and notably, the round has more than doubled the company’s valuation in less than a year, the company said on Monday.

The start-up plans to deploy the new capital to expand its hospital footprint in Bengaluru and further strengthen its integrated managed-care approach, which prioritises patient recovery and long-term health outcomes rather than driving higher hospital utilisation.

Meanwhile, alongside the funding announcement, Even revealed that its first hospital achieved operating break-even in under six months, a significantly faster timeline compared with the industry average, where hospitals typically take two to three years to reach operational profitability.

Founded by Mayank Banerjee and his co-founders, Even Healthcare runs a vertically integrated care model that seamlessly combines clinics, hospitals, teleconsultations, and at-home recovery services. Moreover, its care teams remain accountable throughout the entire patient journey, spanning early access and diagnostics to hospitalisation and structured post-discharge care, with the goal of preventing avoidable complications and readmissions.

“We’re proud of that milestone because it’s fast by hospital standards,” Banerjee, Co-founder of Even Healthcare, said. “What matters even more is how we got there. Even’s model is structurally designed to reduce what many hospitals are paid to maximize—unnecessary admissions, long stays, and avoidable return visits,” he added.

In addition, investor Lachy Groom highlighted the company’s ability to balance quality and financial discipline. “Managed care works when incentives are aligned around patient recovery, and Even has shown that this model can scale without compromising quality,” he said.

Furthermore, Even Healthcare released early clinical and operational data from a tracked patient cohort across its care network. The company reported zero unplanned 30-day readmissions across more than 350 surgeries, recorded no postoperative infections in the cohort, and achieved an average length of stay at least 40 percent shorter than comparable care settings. Additionally, the company said it avoided over 200 hospitalisations through closely monitored at-home recovery pathways.

Over the past year, Even has also delivered a 50 percent reduction in post-surgery readmissions, completed its first ESOP buyback in March 2025, and launched its first hospital in Bengaluru in May. By September 2025, the company reported a 92 percent online revenue retention rate, one of the highest in the healthcare sector, which underscores growing member confidence in its outcomes-first care model.

Sundaram Alternates’ green real estate fund secures ₹1,000-Cr in commitments

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Karthik Athreya, Managing Director, Sundaram Alternates

Sundaram Alternates (SA), the alternative investment arm of the Sundaram Finance Group, on Monday announced that its SA Real Estate Credit Fund V—India’s first ESG-aligned real estate credit fund—has crossed ₹1,000 crore in capital commitments within just three months of its launch in October 2025.

Meanwhile, the fundraiser remains open and is expected to conclude by March 2026, with the firm targeting a final corpus in the range of ₹1,500–2,000 crore.

According to the company, this milestone highlights sustained investor confidence in SA’s Category II AIF platform as well as its performing real estate credit strategy.

Additionally, the fund has drawn commitments from a diversified investor base that includes insurance companies, family offices, corporate treasuries, and ultra-high-net-worth individuals. It also features a sponsor commitment from the Sundaram Finance Group, which further strengthens alignment of interest.

“Crossing ₹1,000 crores within three months reflects the confidence that investors place in our underwriting discipline and risk framework. This momentum reflects nearly a decade of sustained effort in building a robust risk management platform for our credit business. As the fundraising progresses toward its final close, our focus remains on disciplined capital deployment, capital protection, and building long-term investor relationships,” Karthik Athreya, Managing Director, Sundaram Alternates, said.

Fund V follows a strategy centred on senior secured, amortising lending to brownfield, cash-generating residential projects. Importantly, the fund embeds ESG considerations directly into its underwriting and portfolio monitoring processes, ensuring that sustainability informs asset selection and governance rather than functioning as a separate overlay.

To date, Sundaram Alternates has raised more than ₹3,800 crore across five real estate credit funds and has delivered internal rates of return in the range of 18–19%. Furthermore, Fund V represents the fifth offering in SA’s established real estate-backed credit series, which has maintained a zero capital loss track record since its inception in 2017.

The platform also states that it has consistently achieved full capital repayment with no defaults across multiple business cycles.

Overall, the rapid fundraising success of SA Real Estate Credit Fund V underscores Sundaram Alternates’ strong positioning in ESG-aligned real estate credit, backed by disciplined underwriting, robust risk management, and a long-standing record of capital protection. As the fund moves toward its final close, the firm appears well placed to deepen investor trust while scaling its sustainable credit strategy.

Royal Orchid expands Rajasthan presence with Regenta Suites Jaipur

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Royal Orchid and Regenta Hotels Ltd. have announced the signing of Regenta Suites and Residences Jaipur, a 60-key property located in Jaipur City Centre, thereby reinforcing the group’s continued focus on strategic expansion. The company will operate the hotel under a hotel management agreement, which further supports its asset-light growth strategy.

At the same time, SSBC Group, owned by Madan Lal Yadav, is developing the property. The hotel will primarily cater to long-stay guests, business travellers, and families who prefer larger and more flexible accommodation formats within the city. Moreover, the suites-and-residences concept aims to deliver extended-stay comfort while ensuring convenient access to Jaipur’s key commercial districts, lifestyle hubs, and cultural landmarks.

Looking ahead, Regenta Suites and Residences Jaipur will open by April 2026. Consequently, the signing strengthens Royal Orchid and Regenta Hotels Ltd.’s footprint in Rajasthan while also adding depth to its growing portfolio across urban and leisure-oriented markets.

Commenting on the development, Chander K. Baljee, Chairman and Managing Director, Royal Orchid and Regenta Hotels Ltd., said, “Jaipur continues to be a strong market for us, driven by consistent demand across business, leisure, and extended-stay segments. The signing of Regenta Suites and Residences Jaipur aligns perfectly with our growth strategy and brand promise of delivering comfort-led hospitality in prime city locations.”

The Jaipur signing reflects Royal Orchid and Regenta Hotels Ltd.’s sustained focus on capital-efficient expansion, targeted brand deployment, and evolving guest needs. As demand for extended-stay and flexible accommodation continues to rise, the new property positions the group to capture long-term growth opportunities in one of India’s most dynamic hospitality markets.

Fintech startup Mylapay raises $1 Mn to strengthen its payment infrastructure

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L-R: Mohanraj Ravi, Sundar Balasubramanian & Santhakumari Dhana Balakrishnan, founders, Mylapay

Payment infrastructure startup Mylapay has announced that it has raised $1 million as part of its ongoing capital round, ahead of its upcoming Series A fundraise. Through this round, existing investors CDM Capital and Credit Saison continued their participation, while GrowthCap Ventures joined as a new investor under the leadership of Pratekk Agarwaal. In addition, a group of strategic angel investors also participated in the round.

With the newly raised capital, the startup plans to further strengthen its payment infrastructure. At the same time, it will scale its product offerings, deepen collaborations with banks and payment aggregators, and support its expansion across the Middle East, Africa, and the US markets.

Mylapay delivers end-to-end processing solutions across card and UPI payment rails through a modern, product-led acquiring infrastructure. Its backend technology stack actively supports 3DS authorization, switching, clearing and settlement, reconciliation, and chargeback management. Moreover, the platform holds certifications from major card networks, including Visa, Mastercard, and RuPay.

Recently, the company launched its unified acquiring platform, a compliance-led infrastructure built to process more than 5,000 transactions per second. As a result, banks and payment aggregators can now manage end-to-end card and UPI acquiring through a single, streamlined integration.

“Mylapay has been deliberate in building a compliance-first acquiring infrastructure. We’re pleased to continue supporting the team as they scale the platform,” said Davesh Manocha, Managing Partner, CDM Capital.

“Payment processing can no longer be a black-box ‘service.’ Regulatory changes and industry evolution now demand product-based solutions—configurable, secure, and built for scale. At Mylapay, we’ve productized acquiring-in-a-box with built-in compliance infrastructure, so payment acquirers gain full control and flexibility without compromising on data privacy, regulatory confidence, or performance. This capital infusion further equips us to accelerate adoption of our next-gen platform,” said Mohanraj Ravi, Founder & CEO of Mylapay.

Speaking on the investment, Pratekk Agarwaal, Founder and General Partner at GrowthCap Ventures, said, “India has always led innovation in payments, and the world is now adopting this maturity curve. Mylapay is solving one of the most critical infrastructure gaps—helping banks and payment institutions modernize their acquiring stack with reliability, compliance depth, and scale. At GrowthCap Ventures, we back category-defining fintech infrastructure plays, and Mylapay is strongly positioned to shape the next phase of digital payments globally.”

Nirma Group explores hospitality foray with 555-room hotel plan in Ahmedabad

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Ahmedabad-based Nirma Group is preparing to enter the hospitality sector as part of a broader diversification strategy, according to people familiar with the matter. The Rs 12,207-crore conglomerate, which operates across detergents, soaps, soda ash, caustic soda, cement, and healthcare, has already applied for environmental clearance to develop a five-star hotel aimed at the upper-upscale segment of the market.

According to the same sources, the proposed development involves a 555-room hotel planned along the Sarkhej–Gandhinagar (SG) Highway, which continues to emerge as one of Ahmedabad’s fastest-growing commercial corridors. At the same time, the group has initiated discussions with multiple multinational hotel operators, including Indian Hotels Company Ltd (IHCL), Hyatt Hotels, and Marriott International. However, people aware of the negotiations noted that the group has not yet finalized any operating agreement.

Looking ahead, the hotel will commence operations ahead of the 2030 Commonwealth Games. Consequently, the project aims to capitalise on increasing demand for premium accommodation, driven by global sporting events as well as sustained growth in corporate travel. Meanwhile, an email sent to a Nirma Group official seeking comment did not receive a response until press time.

Commenting on the broader market dynamics, Nandivardhan Jain, founder and chief executive of hotel investment and branded residences advisory firm NOESIS, said, “The depth of demand we are seeing today is very different from what it was even a few years ago.”

Renaissance Hotels strengthens India presence with the debut of Renaissance Goa Hotel

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Roopa Singh, General Manager, Renaissance Goa Hotel

Renaissance Hotels, part of Marriott Bonvoy’s global portfolio of over 30 extraordinary hotel brands, proudly announces the opening of Renaissance Goa Hotel, thereby reinforcing its commitment to immersive lifestyle hospitality in India.

Designed with intention, this new address speaks to travelers who seek authentic exploration, genuine connections, and compelling local narratives. Set amid the lush Arpora valley and offering seamless access to North Goa’s iconic beaches—Baga, Anjuna, and Vagator—the hotel thoughtfully bridges the energy of Goa’s vibrant coastline with the calm, rhythmic allure of a valley retreat.

“The Renaissance Hotels brand is built on curiosity and the idea that travel is most rewarding when it truly connects guests to the distinct character and DNA of a destination,” said Kiran Andicot, Senior Vice President, South Asia, Marriott International. “Goa has long captivated as one of India’s most enduring leisure destinations, offering a lighthearted familiarity and an accessible choice for both planned getaways and spontaneous adventures. As we continue to expand our lifestyle portfolio across India, Goa remains central to our leisure growth strategy, with a focus on neighbourhood-led experiences, innovative design, and a style of exploration that today’s travelers seek.”

Located in North Goa, the hotel actively connects guests to the region’s buzzing beach culture, lively night bazaars, adventure-driven excursions, eclectic cafés, and layered cultural experiences, while simultaneously offering a tranquil escape that feels removed from everyday life. Drawing inspiration from the textures and tempo of tropical Goa, the design language embraces a natural palette that feels fluid, tactile, and quietly dramatic.

Throughout the property, brass Vanda orchid installations, hand-carved sandstone floral elements, and botanical mosaic details create a cohesive visual story rooted in the landscape. At the same time, moments of theatrical expression appear throughout the hotel, including a striking cherry blossom installation in the lobby, a lemon tree anchoring the Casa Limone restaurant, and an LED-lit glass roof that dynamically shifts with the light, encouraging guests to pause, observe, and explore instinctively.

The hotel features 133 guest rooms and suites that confidently blend contemporary aesthetics with thoughtful, unexpected details. Locally inspired 3D art installations and bespoke brass floral cabinetry add depth and character to each space, while family rooms overlook expansive views of the tropical valley, creating a calming retreat after days spent discovering Goa’s vibrant neighborhoods. Spacious bathrooms and lifestyle-oriented amenities further enhance comfort while supporting an engaging and seamless stay.

Staying true to Renaissance Hotels’ brand philosophy, the hotel introduces its signature Navigators as approachable, knowledgeable local ambassadors. These Navigators actively guide guests toward hidden gems across the coastal state, drawing on lived experience and deep familiarity with the destination. Through curated recommendations and personally shaped journeys, they help create moments that feel spontaneous, authentic, and rooted in place. Experiences include an intimate immersion into village life on Divar Island, culturally rich home-hosted dinners within local Goan residences, explorations of indigenous feni paired with regional flavors, and narrative-led walks through the historic Fontainhas Latin Quarter.

The hotel’s culinary program plays an equally central role in shaping the guest experience. The Bloom Kitchen leads the dining offerings as an all-day venue that celebrates global cuisines while highlighting Goa’s coastal heritage. Seasonal ingredients, rotating menus, and bold flavors ensure the dining experience evolves in step with the region’s natural rhythm. Meanwhile, Casa Limone brings handcrafted ceramics, bright Amalfi-inspired flavors, and relaxed sundowners together to evoke the charm of coastal Italy. Aerio, the rooftop pool bar, delivers refreshing cocktails and curated bites against sweeping valley views, while R Lounge at the lobby heart transitions effortlessly from artisanal daytime coffees to evening cocktails.

As night falls, R Lounge transforms into the setting for Evenings at Renaissance, the brand’s signature ritual that celebrates North Goa’s sophisticated and social spirit. Through daily bar rituals, weekly programmed experiences, and live music performances, the hotel encourages guests to engage with the destination in an organic, local way.

In addition, the hotel supports a wide range of social and professional gatherings with nearly 8,000 square feet of flexible event space. Designed for destination weddings, intimate celebrations, and creatively driven corporate meetings, the ballroom and adaptable venues feature advanced technology and versatile layouts that enable seamless event execution.

“We are delighted to welcome guests to Renaissance Goa,” said Roopa Singh, General Manager, Renaissance Goa Hotel. “Inspired by the energy of North Goa and the stories found within its neighborhoods, the hotel has been designed to encourage discovery at every turn. Our goal is to create a Renaissance brand experience that feels welcoming, expressive, and deeply connected to its surroundings—where guests can engage with the destination through design, local insights, and meaningful moments. We look forward to introducing guests to a place that captures the spirit of Goa in a way that feels both vibrant and personal.”

Renaissance Hotels also actively participates in Marriott Bonvoy®, Marriott International’s award-winning travel program. Through this program, members can earn and redeem points at Renaissance Goa and across Marriott Bonvoy’s portfolio of 30 extraordinary brands, as well as through everyday purchases made with co-branded credit cards. Moreover, the Marriott Bonvoy app enhances the stay with contactless services and personalized travel insights, offering greater convenience from arrival to departure.

DSM Fresh Foods acquires Avyom Foodtech to expand into ready-to-eat market

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Deepanshu Manchanda, Managing Director of DSM Fresh Foods Limited

DSM Fresh Foods Limited, which operates the ZappFresh brand and trades on the BSE SME platform, has approved the acquisition of a 51–60% controlling stake in Avyom Foodtech Private Limited, thereby formally entering the ready-to-eat (RTE) and ready-to-cook (RTC) food categories while also strengthening its push into overseas export markets.

To execute the transaction, DSM Fresh Foods Limited will infuse approximately Rs 7.5 crore in cash through a private placement of shares in Avyom Foodtech. Consequently, the investment will result in DSM Fresh Foods holding at least a 51% equity stake in the company.

Furthermore, DSM Fresh Foods stated that it expects to complete the acquisition within the next three to nine months.

In parallel, the company may explore the induction of external strategic investors at the Avyom level through the issuance of fresh shares, subject to board approval. Through this approach, DSM Fresh Foods aims to support long-term growth while ensuring capital alignment.

As part of the broader transaction structure, Avyom Foodtech has entered into a binding term sheet to acquire the operating food processing business of Ambrozia Frozen Foods through a slump sale on a going-concern basis.

The acquisition covers around five acres of land, a fully operational food processing facility, and the associated plant and machinery. Additionally, the transaction involves the assumption of identified liabilities, including bank borrowings and trade payables. Meanwhile, the company will deploy funds in phases, in line with the Business Transfer Agreement, to maintain capital discipline and enable a calibrated operational ramp-up.

As a result, the move provides DSM Fresh Foods with immediate access to an established processed foods platform, supported by FSSAI-approved manufacturing processes and export-ready infrastructure.

The Ambrozia facility operates with a processing capacity of around 15 tonnes per day and supports a portfolio of more than 150 SKUs. These products include breakfast items such as idli, medu vada, and dosa fillings; snacks such as kebabs, momos, rolls, samosas, and burger patties; Indian fritters including pakoda and onion bhaji; as well as gravies, breads, and sauces.

Moreover, Ambrozia serves a diverse customer base comprising institutional clients and quick-service restaurants, including Hyperpure, Faasos, Jubilant, Demand Planner, and Al Kabeer. At the same time, the company maintains a strong export presence in Canada, the United Kingdom, and the UAE.

Although the business reported a turnover of around Rs 13 crore in FY25, it has historically achieved peak annual revenues of approximately Rs 16 crore, thereby highlighting the scalability of its processing infrastructure.

DSM Fresh Foods explained that the acquisition enables the company to enter the high-growth processed foods segment without the extended timelines and capital intensity associated with a greenfield expansion. Consequently, the company expects the move to complement its strengths in sourcing, quality control, cold-chain logistics, and distribution, while also enhancing unit economics through value-added products.

Commenting on the development, Deepanshu Manchanda, Managing Director of DSM Fresh Foods Limited, said the transaction marks a pivotal moment for the company.

“This acquisition represents a strategic inflection point in DSM’s evolution from a fresh foods platform to an integrated, end-to-end food solutions company. By acquiring a running processed foods business with established capabilities, regulatory approvals, and export readiness, we are significantly shortening our execution timeline while maintaining capital discipline,” he said.

Avyom Foodtech Private Limited, formerly known as IEY Education Private Limited, was incorporated in 2022 and operates in the manufacturing, processing, and export of RTE and RTC products, including frozen foods, snacks, gravies, and sauces. Notably, directors of DSM Fresh Foods promoted the company.

At the same time, the acquisition builds on DSM Fresh Foods’ track record of inorganic expansion. Operating under the ZappFresh brand, the New Delhi-headquartered company focuses on sourcing, processing, and delivering meat and food products to both consumers and institutional customers.

In the first half of FY26, DSM Fresh Foods reported a net profit of Rs 7 crore, nearly three times higher than the Rs 2.4 crore recorded a year earlier. Meanwhile, operating revenue increased 43% year-on-year to Rs 95.6 crore.

Overall, the company stated that its expansion into processed foods and exports will help diversify revenue streams and strengthen its position across the food value chain.

Paytm parent One 97 grants ESOPs worth Rs 16.7-Cr to employees

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Vijay Shekhar Sharma, the founder and CEO of Paytm

One 97 Communications, the parent company of Paytm, has approved a fresh grant of employee stock options (ESOPs) under its existing employee incentive framework.

According to a stock exchange filing, the company stated that its Nomination and Remuneration Committee sanctioned the grant of 1,23,908 stock options to eligible employees under the One 97 Employees Stock Option Scheme 2019.

The committee granted the approval on January 3, 2026, through circulation. Under the terms of the scheme, each stock option is convertible into one fully paid-up equity share with a face value of Rs 1, at an exercise price of Rs 9 per option.

Based on Paytm’s Friday closing share price of approximately Rs 1,340.4, the newly issued ESOPs carry an estimated notional value of around Rs 16.7 crore. At the same time, the company disclosed that 4,25,702 stock options lapsed during the reported period. Moreover, the filing confirmed that there was no vesting, exercise, cancellation, or variation in the terms of options during this interval.

Additionally, the company clarified that the equity shares issued upon the exercise of these options will not be subject to any lock-in period. The ESOP scheme remains fully compliant with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and it includes detailed provisions addressing corporate actions as well as the treatment of options in events such as resignation, retirement, termination, death, or permanent incapacity.

Separately, One 97 Communications highlighted a significant regulatory development in its payments business. Paytm Payments Services Limited, the company’s wholly owned subsidiary, has received authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator for physical or offline payments and cross-border transactions.

With this regulatory clearance, the subsidiary now holds payment aggregator approvals across online, offline, and cross-border segments, thereby enabling it to provide payment aggregation services for a broader range of merchant use cases.

On the financial front, One 97 Communications reported revenue from operations of Rs 2,061 crore in Q2 FY26, marking an increase from Rs 1,659 crore recorded in the corresponding quarter last year.

However, net profit for the quarter declined sharply to Rs 21 crore, compared with Rs 930 crore in Q2 FY25, primarily due to the absence of a one-time gain in the base quarter and the recognition of an impairment loss in the latest reporting period.

Café Delhi Heights expands footprint with 49th outlet in Pitampura

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Vikrant Batra, Founder, Café Delhi Heights

Café Delhi Heights, a well-established casual dining chain in India, has opened its 49th outlet at Unity One Eleganté, Netaji Subhash Place (NSP), Pitampura, thereby strengthening its footprint across Delhi. Through this launch, the brand aims to serve the diverse dining preferences of West Delhi consumers while contributing to the region’s growing organized casual dining ecosystem.

The newly launched Pitampura outlet covers approximately 1,840 square feet and accommodates 71 guests, with 57 indoor seats and 14 outdoor seats. Moreover, the brand has designed the space around an Art Deco theme, incorporating geometric patterns, clean lines, and textured finishes. Consequently, the outlet aligns with broader industry trends in which premium casual dining formats increasingly emphasize experience-led and differentiated environments.

Vikrant Batra, Founder, Café Delhi Heights, said, “Every new outlet is a reflection of our commitment to creating spaces where people feel at home. NSP is one of Delhi’s most energetic hubs, and we wanted to bring a fresh, thoughtfully designed Café Delhi Heights experience to this neighborhood. The Art Deco theme complements our vision of blending comfort with sophistication, while continuing to serve the flavors and hospitality that our guests love.”

Since its inception in 2011 at Crosspoint Mall in Gurgaon, the brand has steadily expanded its national presence to 17 cities, thereby building a portfolio of outlets that deliver globally inspired yet comfort-driven menus. Additionally, signature offerings such as the Juicy Lucy Burger, alongside a curated selection of European and Indian dishes, remain central to the menu. As a result, the brand consistently reinforces its focus on high-quality ingredients, innovative flavors, and operational consistency.

Beyond its flagship chain, Café Delhi Heights continues to diversify its presence through sister concepts, including Café Delhi Heights 2.0, IKIGAI in Delhi, and Sarava in Goa. Furthermore, with a stated goal of reaching 120 locations by 2028, including international markets, the brand is actively preparing for its next phase of expansion.

Overall, the launch of the Pitampura outlet underscores Café Delhi Heights’ deliberate growth strategy, which combines scale, design-led differentiation, and menu innovation. As competition intensifies in India’s casual dining segment, the brand’s emphasis on experiential spaces and diversified concepts positions it to attract a broad consumer base while sustaining long-term expansion momentum.

CIEL HR Services raises Rs 30-Cr to scale subsidiaries before IPO

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Latha Rajan & K Pandiarajan, Co-founders, CIEL HR Services

New Delhi-based human resources solutions provider CIEL HR Services has raised Rs 30 crore from 88 investors, including Zoho Corporation, Pegasus India, and Standard Fireworks, ahead of its proposed initial public offering (IPO).

In a public announcement, the Chennai-headquartered company stated that it executed a pre-IPO placement of 27,27,272 equity shares at Rs 110 per share, thereby aggregating total proceeds of Rs 30 crore.

Notably, the company’s board approved the fundraise on November 17, and shareholders subsequently cleared the issuance at an extraordinary general meeting held on November 28.

In addition to Pegasus India Evolving Opportunities Fund, Zoho Corporation, and Standard Fireworks, the allotment attracted a diverse set of prominent investors. These include Rajashekar Reddy Seelam, founder of 24 Mantra Organic; Prime Securities; KTV Kannan, promoter of KTV Oil Mills and KTV Health Foods; Sri Kaliswari Fireworks; the Pothys family office; AIKYAM Capital; NS Rajan; and Abhijit Bhaduri, among others.

According to the company’s draft red herring prospectus (DRHP), the proposed IPO will consist of a fresh issue of equity shares worth Rs 335 crore, along with an offer for sale (OFS) of 47.4 lakh shares by promoters and other existing shareholders.

Furthermore, the company plans to deploy the proceeds from the fresh issue toward acquiring additional stakes in its subsidiaries, including Firstventure Corporation, Integrum Technologies, Next Leap Career Solutions, People Metrics, and Thomas Assessments. At the same time, it will use a portion of the funds to meet incremental working capital requirements, pursue inorganic acquisitions, and cover general corporate expenses.

Simultaneously, CIEL HR Services will invest in five subsidiaries—CCIEL Skills and Careers, FirstVenture Corporation, Integrum Technologies, Ma Foi Strategic Consultants, and Next Leap Career Solutions—with the objective of expanding and strengthening their learning experience platforms.

Founded in Chennai, CIEL HR Services, meanwhile, delivers a technology-driven, end-to-end suite of human resources solutions that spans the entire employee lifecycle, thereby positioning the company as an integrated HR services platform ahead of its public market debut.

The pre-IPO fundraise highlights strong institutional and strategic investor confidence in CIEL HR Services’ business model and growth trajectory. As the company advances toward its IPO, its focus on subsidiary expansion, technology-led HR solutions, and strategic acquisitions is likely to enhance scale, deepen market presence, and strengthen long-term value creation.

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