TeamLease Services acquires remaining 6.06 % stake in IMSI

IMSI stands as a wholly-owned subsidiary of the company with immediate effect.

Jul 26, 2021 10:07 IST India Infoline News Service

TeamLease Services
TeamLease Services Limited has acquired a final 6.06 % stake in I.M.S.I. Staffing Private Limited (IMSI) on July 23, 2021, and IMSI stands as a wholly-owned subsidiary of the company with immediate effect, the company said in a filing on Saturday.

The company had entered into a Share Purchase Agreement on November 12, 2019, with IMSI, towards the acquisition of a 100% stake in IMSI by the company, in three tranches.

IMSI was incorporated under the Companies Act, 2013, and having its registered office in Subash Nagar, Dehradun. The company acquired a 72.7% stake in IMSI on November 12, 2019 in first tranche.

The company on February 04, 2020, acquired 21.24% stake in IMSI in second tranche. The remaining acquisition was completed on July 23, 2021 in  third and final tranche.

At around 10.20 AM, Team Lease Services Ltd was trading at Rs3,961.90 per piece up by Rs7.85 or 0.2% from its previous closing of Rs3,954.05 per piece on the BSE.

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