CIEL GROUP ANNOUNCES STRATEGIC INVESTMENT IN TECH PLATFORMS AS PART OF ITS IPO ROAD MAP. ANNOUNCES H1 RESULTS FOR 2022-23.

 CIEL means ' sky' in French .The vision of the company is to reach the peak of excellence & emerge as the most progressive and respected HR player in the markets they operate in. Their Tagline is "HR Inspired by Science".

CIEL is one of the leading workforce & Skilling solution Companies in India,is taking strides in its expansion plans by organic as well as inorganic growth.

CIEL,aanounced its strategic investment today in Next Leap Career Solutions Private Ltd.,(Brand name:JOMBAY) by signing an agreement to acquire 100% equity stake in tranches.They are presently acquiring 76.33% stake.With this acquisition,CIEL Group strengthens its position further as a workforce solutions Company by leveraging technology. JOMBAY's technology solutions are used by more than 500 marquee organisations for identifying and building great managers & leaders and making them future ready.Every year more than 200,000 managers and leaders go through Jombay's assessment & development programs.

CIEL has recorded 80% growth in y-o-y revenue for H1 2022-23 with sales Rs.382.59 crores and Operating EBITDA of Rs.4.58 crores.CIEL opertes from 74 offices across 50 locations now, and plans to expand further.  ProSculpt leverages CIEL HR's immense industry network to bring to educational institutions and students the best oppurtunities for final placements & internships. ProSculpt platform also enables students access a wide array of learning content and assess themselves and plan their learning journey towards higher job related knowledge & skills.

Addressing the media,Mr.K.Pandiarajan,Executive Chairperson & Director-Ma Foi Group & CIEL Group said,"80% growth in H1 and the onset of the inorganic journey shows the growth ambitions and the inherent strength of the brand.I am confident that CIEL,the fastest growing player among the Top 10 in India's HR industry,will continue to lead the innovations and emerge as one of the top 5 workforce and skilling solution companies in India by 2025".

Talking about the Jombay acquisition,Mr,Aditya Narayan Mishra,Mg.Director & CEO-CIEL HR services said," This acquisition,in line with our IPO plans,is part of our strategic vision to expand our technology led offerings in the HR services domain.With this acquisition, we penetrate deeper in the market and expand our margins".