Tech Mahindra, India's fifth largest IT services firm, is planning to hive off the employment jobs in Ludhiana – Saral Rozgar – into a separate firm. The company is also scouting for strategic investors, who can invest either partially or acquire the entire stake in the firm.
Further, the company is also exploring avenues like private equity investments, or equity shareholding by the management and employees, among others. “The process is on for incorporating Saral Rozgar as a standalone legal entity, and we are hopeful of completing the entire process in this financial year. We decided to hive this off as this could be a large company doing large business, and can bring in value for the whole group,” said Saral Rozgar founder and CEO, Vivek Chandok, to BusinessLine in an interaction. Following the proposed hive-off, it continues to function as a separate company under the brand name ‘Saral Rozgar’. Tech Mahindra has completed the formalities of appointing advisors for the spin off, he said, declining to name the advisors. Saral Rozgar was incubated by Tech Mahindra in 2012 as value added services provider to telecom operators, and a year later the company became a direct-to-consumer services firm by launching a recharge card. Till date, Tech Mahindra has invested about $10 million in Saral Rozgar. About Saral Rozgar: Saral Rozgar serves the society by creating job market for "blue collared job seekers" and the "job providers". This low cost service enables job seekers to find suitable job for themselves by creating profile and helping job providers to access this huge pool of registered job seekers over WEB/WAP or IVR. Saral Rozgar takes the blue collar jobs in Kolkata ecosystem to the next level and connects the two ends through mobile phone as a medium. Now Saral Rozar has fulfilled below Statics: 6 million job seekers Across more than 150 job categories From over 300 cities across 23 states 22000 employers With 140,000 job vacancies at any point of time, 1.5 Mn+ cumulative vacancy postings 7 national and international awards for innovation GET IN TOUCH: 6 million blue collar and entry level base Call: +91-92669 12345 Email: [email protected] CORPORATE OFFICE: Tech Mahindra Growth Factories Limited, Plot No-248, Okhla Industrial Estate, Phase 3, New Delhi, PIN 110020
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