Tamil Nadu based Stalwart People Services files DRHP for Rs 150 crore IPO

Tamil Nadu-based Stalwart People Services has filed a DRHP for a Rs 150 crore IPO, comprising a fresh issue and an offer for sale of up to 52,64,151 equity shares by promoters. Fresh issue proceeds will be used for working capital (Rs 65 crore), debt repayment (Rs 40 crore), and general corporate purposes. The company reported revenue of Rs 474 crore and PAT of Rs 22.8 crore for the nine months ended December 31, 2025, with listed peers including SIS, TeamLease Services, Updater Services, Krystal Integrated Services and Kapston Services.