IPO News
Teamlease IPO opens today
TeamLease Services, established
in 2002 with 4 offices, 20 clients and 40 employees, and is now India's
largest and foremost people supply chain company with 8 regional
offices and about 1,200 employees, according to the company's website.
Shares
of the company are proposed to be listed on BSE and NSE.
TeamLease Services has fixed Rs 785-850 per share as the price band for its initial public offer (IPO) which will hits the capital market today.
The IPO, which closes on February 4, 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, the company said in a public announcement. The company is expected to garner Rs 423 crore at the upper end of the price band.The proceeds of the IPO will be used for acquisitions and other strategic initiatives, upgradation of the existing IT nfrastructure, working capital requirements and other general corporate purposes. The company, which had filed draft papers with Sebi in September, for the proposed public offer, had received the regulator's approval last month.
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