<article>Global asset management firm <a href="http://dealstreetasia.com/tag/t-rowe" target="_blank" rel="noopener">T Rowe Price</a> has acquired around a 5 per cent stake in recruitment and staffing company <a href="http://dealstreetasia.com/tag/teamlease" target="_blank" rel="noopener">TeamLease Services</a> for about Rs 157 crore ($24 million) through open market transactions.</article>

Global asset management firm <a href="http://dealstreetasia.com/tag/t-rowe" target="_blank" rel="noopener">T Rowe Price</a> has acquired around a 5 per cent stake in recruitment and staffing company <a href="http://dealstreetasia.com/tag/teamlease" target="_blank" rel="noopener">TeamLease Services</a> for about Rs 157 crore ($24 million) through open market transactions.
According to stock exchange data, T. Rowe on Tuesday acquired 836,544 shares of TeamLease through its International Discovery Fund and T. Rowe Price International A/C &#8211; T Rowe Price International Small-Cap Equity Trust.
The shares were acquired at the rate of Rs 1,885 apiece from Mumbai-based mid-market private equity firm <a href="http://dealstreetasia.com/tag/gaja-capital" target="_blank" rel="noopener">Gaja Capital</a>.
Gaja Capital had invested about Rs 75 crore to pick up 25 per cent stake in TeamLease in two rounds in 2010 and 2011. It received a partial exit, when TeamLease went public in February 2016.
Prior to this deal, Gaja Capital held around 13 per cent stake in TeamLease as at September end, according to its shareholding information. With this transaction, the private equity firm&#8217;s stake in the company is likely to come down to around 8 per cent.
Share price of TeamLease Services touched a 52-week high of Rs 2,184.95, rising over 15 per cent intraday Wednesday on the news of T. Rowe Price acquiring a stake in the company.
TeamLease had a successful listing on the Indian stock exchanges in February last year, with its initial public offering (IPO) being subscribed 66.01 times.
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T Rowe Price has acquired around 5% stake in recruitment and staffing company TeamLease Services for about $24 million though open market transactions.

T Rowe Price acquires 5% stake in India's TeamLease for $24m

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T Rowe Price acquires 5% stake in India's TeamLease for $24m

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