SENSEX   34273.03    -27.44  (-0.08%)      SENSEX   31697.13    50.67  (0.16%)      |  Gold   30606.00    -136.00  (-0.44%)    |  Silver  38329.00   -224.00 (-0.58%)

Latest News:

Teamlease IPO hit the markets today

TeamLease Services, SEBI, IPO,

New Delhi: IPO of Temlease services is scheduled to enter markets today. A day before its IPO, staffing firm TeamLease Services on Monday raised Rs 190 crore through issue of shares to 15 anchor investors, including Goldman Sachs and Merrill Lynch.

The shares were allotted to the anchor investors at a price of Rs 850 apiece, upper end of the price band fixed for the Rs 423-crore initial public offer.

TeamLease allotted 22.39 lakh shares at a price of Rs 850 apiece to anchor investors, aggregating to Rs 190.28 crore, according to a regulatory filing.

Merrill Lynch, Goldman Sachs, Emerging Markets Growth Fund Inc, Nomura, ICICI Prudential, Reliance Capital, Birla Sun Life, Sundaram MF, HDFC MF, UTI, DSP Blackrock, IDFC and L&T
MF are among the 15 anchor investors.

The IPO would be open from February 2 to 4 and the price band is Rs 785-850 per share. At the upper end, the share sale can fetch Rs 423 crore.

The offer would be made through a fresh issue aggregating up to Rs 150 crore and an offer for sale of up to 32.2 lakh equity shares.

Existing investors in the company include Gaja Capital, India Advantage, HR Offshoring Ventures and GPE (India).

A total of 10,000 shares have been reserved for the company's employees in the public issue.

The company is expected to garner Rs 423 crore at the upper end of the price band.

Proceeds from the IPO would be used for acquisitions and other strategic initiatives, upgradation of the existing IT infrastructure, working capital requirements and other general corporate purposes.

IDFC Securities Ltd, Credit Suisse Securities (India) Pvt Ltd and ICICI Securities Ltd are the Book Running Lead Managers to the offer.

Comments (0)

No comments yet.

Leave a comment


No trackbacks yet.