TeamLease Services Limited will open on Tuesday, February 2, 2016, a Public Offer of equity shares of Face Value of Rs. 10 each for cash at a price band from Rs. 785 to Rs. 850 (including share premium) per Equity Share comprising a fresh issue of up to Rs. 1,500 million (“Fresh Issue”) and an Offer For Sale of up to 275,977 Equity Shares by Gaja Capital India Fund-I (“GCIF”); up to 76,660 Equity Shares by Gaja Advisors Private Limited (“GAPL”); up to 1,180,569 Equity Shares by GPE (India) Ltd. (“GIL”); up to 1,533,206 Equity Shares by India Advantage Fund S3 I (“IAF”); and up to 153,321 Equity Shares by HR Offshoring Ventures Pte Ltd. (the “Selling Shareholders”) (the “Offer For Sale” and together with the Fresh Issue, the “Offer”).
The Offer comprises a Net Offer to the Public of such Equity Shares (the “Net Offer”) and a reservation of up to 10,000 Equity Shares for subscription by Eligible Employees (the “Employee Reservation Portion”). The Net Offer will constitute atleast 25% of the post-Offer paid-up Equity Share capital.
The Book Running Lead Managers (“BRLMs”) to the Offer are IDFC Securities Limited, Credit Suisse Securities (India) Private Limited and ICICI Securities Limited.
The Company and the Selling Shareholders may, in consultation with the BRLMs consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investor Bid/ Offer Period will be one Working Day prior to the Bid/ Offer Opening Date - i.e., Monday, February 1, 2016. Bids can be made for a minimum of 15 Equity Shares and in multiples of 15 Equity Shares thereafter. The Bid/ Offer opens on Tuesday, February 2, 2016, and closes on Thursday, February 4, 2016.
The Equity Shares offered through the Offer are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).
The Offer has been graded by CRISIL Research and has been assigned a CRISIL IPO grade of '4/5' indicating that the fundamentals of the Offer are above average relative to other listed equity shares in India.
The Offer is being made through the Book Building Process, in compliance with Regulation 26(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), wherein at least 75% of the Net Offer shall be Allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that our Company and the Selling Shareholders may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Net Offer cannot be Allotted to QIBs, then the entire application money shall be refunded forthwith.
Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, shall participate in this Offer mandatorily through the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”).