Human resource and staffing services firm Spectrum Talent Management on Monday said it is looking to raise Rs 105 crore through its initial share sale offer that opens for public subscription on June 9. The initial public offering (IPO) is scheduled to conclude on June 14. The shares of the company will be listed on NSE Emerge, a platform for small and medium enterprises, the company said in a statement.
The initial share sale comprises a fresh issue of 51.85 lakh equity shares and an Offer for Sale (OFS) of 8.92 lakh equity shares. The price band for the issue has been set at Rs 169 to Rs 173 per share, and the IPO size is estimated to be about Rs 105.14 crore at the upper price band.
Proceeds from the IPO will be utilised to support the company's working capital requirements, acquisitions of businesses in similar or complementary areas, general corporate purposes and meeting its issue expenses.
As one of the leading manpower solutions providers in India, Spectrum offers a wide array of services such as recruitment, payroll, onboarding, and flexible staffing to firms globally. Our comprehensive network, structured processes, professionalism, and strong work ethics ensure that we remain at the top on the global scale. With specialized knowledge, we empower businesses across the globe with expert manpower solutions. Our substantial talent pool and deep understanding of the hiring industry have helped us achieve significant strides in the HR market.