TeamLease Services shares will be listed on bourses on BSE and NSE on Friday (February 12). Earlier, the IPO of the company received overwhelming response from investors as the issue was oversubscribed 66.02 times.
The price band for the IPO was fixed at Rs 785-850 apiece. The total issue comprises of a fresh issue worth Rs 150 crore and an offer for sale of up to 32.2 lakh equity shares.
The company plans to use the IPO proceeds for acquisitions and other strategic initiatives, upgarde of the existing IT infrastructure, working capital requirements and other general corporate purposes.