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Corporate Action of First Meridian Unlisted Shares

About First Meridian Unlisted Shares

Firstmeridian Business Services Limited (FBSL) was formerly known as Firstmeridian Business Services Private Limited. As per its annual filings, the company is engaged in the business of providing management advisory services and staffing services. The company’s services include general staffing and allied services, staffing solutions, workforce automation solutions, trade marketing solutions, IT contract staffing, master services provider, permanent recruitment, and recruitment process outsourcing (RPO) among others. It caters its services to various industries such as BFSI, e-commerce, telecom, IT, consumer durables and electricals, logistics, manufacturing, and entertainment. The company is a subsidiary of Manpower Solutions Limited. The company was incorporated in 2018 and has its registered office located in Mumbai, Maharashtra.

Overview of First Meridian Unlisted Shares

Genesis:

They are a human resources platform formed by world-renowned investors to deliver end-to-end HR solutions and build a winning workforce that thrives in change.
Their customers span across industry sectors, including Telecom, Retail, BFSI, IT, ITES, E-Commerce, Manufacturing, Engineering, and Logistics.

Founded: Bengaluru, 2018

Market Position: Third-largest staffing company by revenue in India.

Operational Reach:

Employs 126,824 associates
Serves over 1,200 clients
Operations from more than 3,500 locations nationwide

Business Segments

Segment
Service
General staffing and allied services
Staffing Solutions
Workforce automation solutions
Trade marketing solutions
Global technology solutions
Contract staffing solutions for niche mid to senior-level positions across global captive centres, product-based companies and other technology companies.
Contract staffing services for niche mid to senior-level positions for clients based outside of India.
Contract staffing solutions for entry to mid-level roles across technology companies.
Other HR services
Permanent Recruitment
Recruitment process outsourcing
Pharmaceutical and healthcare staffing
Facility management
Engineering and technical staffing
Finance accounting and legal staffing

Segment	Service
General staffing and allied services	Staffing Solutions Workforce automation solutions Trade marketing solutions
Global technology solutions	Contract staffing solutions for niche mid to senior-level positions across global captive centres, product-based companies and other technology companies. Contract staffing services for niche mid to senior-level positions for clients based outside of India. Contract staffing solutions for entry to mid-level roles across technology companies.
Other HR services	Permanent Recruitment Recruitment process outsourcing Pharmaceutical and healthcare staffing Facility management Engineering and technical staffing Finance accounting and legal staffing

Clients based on business segments:

Management

Avinash Vashistha | Chairperson and Independent Director

Education: B. Tech in Electrical Engineering, IIT Kanpur (1982); M.Sc. in Computer Science, University of Alberta (1985); MBA, University of Phoenix (1993)
Experience: Senior roles at Accenture, Tholons Inc., Bluebook Bangalore; expertise in technology, consulting, capital, and innovation; active in American Chamber of Commerce, FICCI, CII, NASSCOM, Institute of Directors India

Sudhakar Balakrishnan | Whole-time Director and Group Chief Executive Officer

Education: Bachelor's in Corporate Secretaryship (1983), Master's in Social Work (1985) - University of Madras; leadership programs from IMD (2007), INSEAD (2010), Hyper Island (2013)
Experience: HR management, strategy, P&L management; roles at Adecco India, Satyam Infoway, Finmac Systems, Foresight Marketing, Foresight Power Systems, ABC Consultants

Awards and Recognition

Received the Certificate of Excellence for 'Best Technology Enabled Staffing Solutions' at the Achiever's Awards 2022, recognizing the significant contributions made by DigiOne and DigiTrac.
Awarded the Brand Impact Award 2022 by the Indian Achievers’ Forum for Outstanding Professional Achievement and Contribution to Nation Building.

Subsidiaries

First Meridian Business Services Limited has six wholly-owned subsidiaries, of which five are direct subsidiaries and one is an indirect subsidiary.

Name	PAT (FY22) (in INR Crs.)	Revenue (FY22) (in INR Crs.)
Direct Subsidiaries
Innovsource Services Private Limited	20.3	1586
Innovsource Facilities Private Limited	0.23	29
V5 Global Services Private Limited	22.0	1031
Affluent Global Services Private Limited	15.4	111
CBSI India Private Limited	4.4	71
Indirect Subsidiary
RLabs Enterprise Services Limited	8.0	116

First Meridian Unlisted Shares

First Meridian Business Services Ltd.