Teamlease IPO to open on February 2

By: | Published: January 28, 2016 12:42 AM

Bangalore-based staffing company TeamLease Services has announced its initial public offering(IPO) plans on Wednesday. The three day public offering will open on February, 2 and the price ban for the issue is R785-850 apiece. The company could raise close to Rs 380 crore through the initial share sale, calculations based on upper price band showed.

Bangalore-based staffing company TeamLease Services has announced its initial public offering(IPO) plans on Wednesday. The three day public offering will open on February, 2 and the price ban for the issue is R785-850 apiece. The company could raise close to Rs 380 crore through the initial share sale, calculations based on upper price band showed.

The offering comprises of both a fresh issue worth R150 crore and an offer for sale of 32.19 lakh shares. Private equity investors including Gaja capital and India Advantage Fund are making a partial exit through the IPO.

The pre-IPO placement for anchor investors will open on February, 1. Credit Suisse, IDFC Securities and ICICI Securities are the book running lead managers for the issue.Shares of the company are proposed to be listed on BSE and NSE.

TeamLease Services, which was established in 2002, is one India’s largest and foremost people supply chain company with eight regional offices and 1,200 employees, according to the company’s website.

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