CIEL Group Sets Sights on Global Expansion with Rs 82 Crore Acquisition Fund

CIEL Group plans to raise Rs 82 crore this financial year to support its acquisition strategy. The company recently surpassed Rs 1,000 crore in revenue and aims to expand into the Middle East and South East Asian markets. CIEL HR's brand is valued at USD 30 million.

CIEL Group, a human resources and staffing solutions firm, revealed plans to raise approximately Rs 82 crore for acquisitions this financial year. The company, based in the city, has demonstrated significant growth, exceeding industry averages to achieve Rs 1,086 crore in revenues for the 2023-24 financial year.

Speaking on the occasion, CIEL Group's Executive Chairperson K Pandiarajan highlighted the company's robust performance, citing a BrandFinance valuation that pegs the CIEL Group Brand at USD 30 million, approximately Rs 250 crore. 'CIEL HR was recognised for its brand strength with a rating of AA and a value of USD 30 million,' Pandiarajan stated.

The company is eyeing markets in the Middle East and South East Asia for its expansion. Plans are underway to acquire three companies specializing in EPC, IT staffing, and HR Tech. 'We plan to raise Rs 82 crore for these acquisitions,' he added. CIEL HR's meteoric rise is underscored by a 54% growth rate, far outpacing the industry's 14% average.

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