India-based staffing and HR solution firm Ciel HR is set to go public in FY 2023 and raise INR 10 billion (USD 131.2 million) from the equity market, reports MoneyControl. The firm is also expected to raise INR 1 billion (USD 13.1 million) from private players, including PE funds, in next few weeks, ahead of the IPO. K Pandiarajan, founder of Ciel HR’s parent company Ma Foi HR Services, told Moneycontrol in an interview that his firm is going to almost double the revenue in FY23 and hit the stock market at a valuation of at least Rs 2,000 crore. “We will go public late in FY23 at a valuation of INR 20 billion (USD 262.51 million),” Pandiarajan told Moneycontrol. “We have now set a target to raise INR 10 billion (USD 131.2 million) (from the market), but depending on the situation, it may change a bit.”