Human resources solutions provider CIEL HR Services has raised ₹30 crore from 88 investors, including Zoho Corporation, Pegasus India and Standard Fireworks, ahead of its proposed initial public offering (IPO).

In a public announcement, the Chennai-based company said it carried out a pre-IPO placement of 27,27,272 equity shares at ₹110 apiece, aggregating to ₹30 crore.

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