India: Gaja Capital-backed temp staffing firm TeamLease sets IPO price band

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.

Also Read: India 2015: IPO activity sees sharp recovery as firms raise close to $2b

India: Teamlease, HCG Global & SSIPL Retail IPO’s to test investor appetite

Malaysia IPOs: A challenging 2015, slower 2016 for co listings

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.