CandyDate Jobs to list on secondary markets in April

CandyDate Jobs India, the leading human resource consultancy with a user base of nine million will list on secondary markets this April to provide exit to the early investors. CandyDate Jobs which announced entry into online job portal services via its website candydatejobs.com has valued its per registered user at INR 382 or US $7.60 commanding a valuation of little over INR 356 crore or US $70.76 million. The partners will stay invested for the next one year before they cash their stake. Partners hold 89% stake in the firm.

Investors from Dubai, Singapore and Malaysia have expressed interest to buy out early investors. The entry of international investors came at the right time as the Reserve Bank of India has allowed Indian businesses to raise amount from international venture capital funds with ease in clearance process.

According to partners, CandyDate Jobs India is providing exit as per the agreement and they are happy to announce that some of the investors will exit with a net return of over 500% in little less than two years. New investors will enter into company without any lock in period, hence stake may change hands on regular basis.

According to Margret a financial research firm in India, CandyDate Jobs will continue to grow at 600-700% per year once the appropriate funding falls in place. CandyDate Jobs will raise over US $20 million or INR 98 crore by 2013 to expand operations pan India basis. According to an insider, CandyDate Jobs will raise this amount via debt and have already started exploring the best investor.

“We have outsourced most of our core operations to reduce the strategy implementation time; we are ready for the action as we are entirely focusing on building user base,” said Rahul Malhotra, CEO of CandyDate Jobs.

CandyDate Jobs is the first India based dotcom human resource consultancy to have offline customer support, hence they can cash upon direct commissions earned via placement of the candidate and can also build trust. CandyDate Jobs expects to cross US $90 million or INR 460 crore in revenue by 2015.

CandyDate Jobs is the India's largest human resource consultancy with business operations in over 30 countries worldwide.

CandyDate Jobs
Levels 2
JMD Regent Square
Mehrauli-Gurgaon Road
Gurgaon
India

This release was published on openPR.