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Home Business PE Fund Multiples looks to sell HR Co PeopleStrong at Rs 1,500...

PE Fund Multiples looks to sell HR Co PeopleStrong at Rs 1,500 crore valuation

Renuka Ramnath-led Multiples Alternate Asset Administration, a home-grown private equity fund, plans to promote human resources platform PeopleStrong, stated folks conscious of the event. Multiples has employed Bengaluru boutique bank IndigoEdge to run a sale course of.

The deal is anticipated to worth PeopleStrong at ₹1,300-₹1,500 crore. Multiples has despatched feelers to a handful of buyout funds and home PE funds, providing its seven-year-old portfolio, the folks stated.

Multiples PE holds an 84% stake in PeopleStrong, whereas founders personal 2%. The remaining stake is held by angel buyers and in a pool of shares for providing inventory choices to workers. The corporate was valued at ₹530 crore in its final funding spherical in 2021, in line with Tracxn information.

A Multiples PE spokesperson declined to remark, whereas an e mail despatched to PeopleStrong founder Pankaj Bansal didn’t elicit any response.

PeopleStrong serves greater than 500 massive enterprises throughout the rising economies of Asia using 2 million folks. A supplier of cloud-based human useful resource administration software program, it really works throughout the worker lifecycle from rent to exit, together with human capital administration, payroll, expertise acquisition, expertise administration and collaboration.


The shoppers of Gurugram-based PeopleStrong embrace Tata Capital, Kotak Mahindra, Aditya Birla Group, HDFC Life, ICICI Prudential, CEAT, Royal Enfield, Tata Motors, Paytm, P&G, Continental, Vivo, Cipla, Hyundai and Max Healthcare.In 2017, Multiples acquired the stake in PeopleStrong from varied funds together with PE agency Lumis Companions, HDFC Holdings and The HR Fund, for ₹518 crore. The corporate posted income of ₹284 crore in FY23 with a adverse Ebitda of ₹80 crore.Arrange in 2005 by Bansal, PeopleStrong acquired angel investments of ₹50 crore initially and institutional funding from Lumis Companions in 2011. Lumis and HDFC Holdings made a second spherical of funding in 2013.

PeopleStrong competes with companies reminiscent of Keka HR, UKnowva HRMS, Oracle Cloud HCM, UKG, HROne, Zoho Folks, GreytHR, Beehive HRMS, Qandle, Zimyo, 247HRM, BambooHR, Workday HCM and Darwinbox.

Since Multiples’ buyout, PeopleStrong made a number of acquisitions to strengthen its presence within the HR area.

In 2018, it acquired Grownout, a B2B referral platform, to broaden its SaaS HR technology-PeopleStrong Alt. In the identical yr, it purchased Capabiliti by Qustn Applied sciences for increasing the Alt platform and providing Alt studying to prospects globally. In 2019, Qilo, a SaaS efficiency administration product, was acquired by PeopleStrong.


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