TeamLease Services, one of the India's leading providers of human resource services, will enter capital markets through initial public offering on Feb. 2, 2016. The company fixed price band from Rs. 785 to Rs. 850 a share of face value of Rs. 10 each. The issue will close on Feb. 4, 2016.
The public issue comprises a fresh issue of up to Rs. 1,500 million and an offer for sale of up to 275,977 equity shares by Gaja Capital India Fund-I (GCIF); up to 76,660 equity shares by Gaja Advisors (GAPL); up to 1,180,569 equity shares by GPE (India). (GIL); up to 1,533,206 equity shares by India Advantage Fund S3 I (IAF); and up to 153,321 equity shares by HR Offshoring Ventures.
The offer comprises a net offer to the public of such equity shares and a reservation of up to 10,000 equity shares for subscription by eligible employees. The net offer will constitute atleast 25% of the post-offer paid-up equity share capital.
The book running lead managers (BRLMs) to the offer are IDFC Securities, Credit Suisse Securities (India) and ICICI Securities.
The company and the selling shareholders may, in consultation with the BRLMs consider participation by anchor investors in accordance with the SEBI ICDR Regulations. The anchor investor bid/ offer period will be one working day prior to the bid/ offer opening date - i.e., Monday, Feb. 1, 2016. Bids can be made for a minimum of 15 equity shares and in multiples of 15 equity shares thereafter.
The equity shares offered through the offer are proposed to be listed on the both BSE and NSE.
The offer has been graded by CRISIL Research and has been assigned a CRISIL IPO grade of '4/5' indicating that the fundamentals of the offer are above average relative to other listed equity shares in India.
The company is one of the India's leading providers of human resource services in the organized segment delivering a broad range of human resource services to various industries with a vision of putting India to work. It delivers a broad range of human resource services to various industries and diverse functional roles across India to meet the needs of small and large business clients as well as those of qualified job seekers or "Associate Employees".
