ELC Group Holdings Ltd., a manpower service provider based in Singapore and incorporated in the Cayman Islands, is preparing to go public on the NASDAQ under the ticker ELCG. The company recently increased the size of its initial public offering (IPO) to 1.7 million shares, priced between $4.00 and $6.00, aiming to raise up to $8.5 million. With a market capitalization of $102.25 million, this IPO is gaining attention in the growing help supply services industry.
About ELC Group Holdings Ltd.
Founded in 2020, ELC Group specializes in manpower supply and contracting services, serving industries such as logistics, food and beverage, cleaning, manufacturing, retail, and events. Acting as a bridge between employers and job seekers, the company helps businesses save time and resources while providing workers with broader opportunities.
One of the company’s major strengths lies in its proprietary matching platform, which connects employers with candidates using character and skill recognition matrices. This reduces inefficiencies in the recruitment process, providing a more tailored solution compared to traditional manpower providers.
Technology-Driven Solutions
ELC Group has developed two innovative platforms:
- EL Connect App – A mobile application designed for job seekers, offering real-time job matching and same-day payments for part-time workers. Integrated with AI technology, the app enhances user experience and accessibility.
- Taskforce App – A smart property management platform for employers that integrates IoT sensors, facial recognition, and robotics to optimize workforce and facility management. The company has started monetizing this platform through subscriptions and licensing, creating an additional revenue stream.
Financial Performance
For the fiscal year ending June 30, 2024, ELC Group reported:
- Revenues: $6.41 million
- Net Income: $0.84 million
- Employees: 25
The company generates revenue from manpower supply services, contracting services, SaaS subscriptions, software licensing, and project management services.
IPO Details
- Symbol: ELCG
- Exchange: NASDAQ
- Shares Offered: 1.7 million
- Price Range: $4.00 – $6.00
- Estimated Volume: $8.5 million
- Expected Trading Date: Week of August 25, 2025
- Lead Manager: D. Boral Capital
Conclusion
With its strong foothold in Singapore’s manpower services market and its focus on AI-powered recruitment solutions and smart property management, ELC Group Holdings Ltd. is positioning itself as a technology-driven leader in the staffing industry. Investors looking for exposure to the services and workforce management sector may find the ELCG IPO a compelling opportunity.
