Staffing services firm TeamLease Services Ltd has set its IPO price band at Rs 785-850 each which will hit the market on February 2, 2015, according to a public announcement.
Through the IPO, the company will issue fresh shares worth Rs 150 crore and and offer for sale up to 32.2 lakh shares by its existing investors like Gaja Capital and ICICI Ventures besides promoters. The IPO will close on February 4, 2015.
TeamLease filed the DHRP with SEBI in September 2015 and received the approval last month.
It plans to use the money for acquisitions and other strategic initiatives.
Established in 2002, TeamLease is one of the country’s leading providers of human resource services and foremost people supply chain company with eight regional offices and over 1000 full time employees.
The company currently has 99,090 associates across the country, according to its website.
IDFC Securities, ICICI Securities and Credit Suisse Securities (India) Pvt are managing the issue.
Last week, five companies including Mahanagar Gas Ltd, Equitas Holding, GVR Infra Projects, GNA Axles and Maini Precision Products received SEBI’s nod for their proposed IPO.