TeamLease Services IPO subscribed 28.63 times

As per the breakdown of the subscription of the IPO, Qualified Institutional Buyers (QIBs) portion was subscribed 25.33 times, while Non Institutional Investors portion was subscribed 52.84 times. Retail Individual Investors (RIIs) portion was subscribed 3.19 times while Employees portion was subscribed 0.01 times in the IPO.

Feb 04, 2016 05:02 IST India Infoline News Service

Initial Public Offering, IPO
The Rs 423-crore initial public offering (IPO) of recruiting and staffing firm TeamLease Services received 8,28,02,475 bids as against 28,92,063 bids issued by the company. The IPO was subscribed 28.63 times. The three-day bidding for the IPO closed on February 4, 2016.

As per the  breakdown of the subscription of the IPO, Qualified Institutional Buyers (QIBs) portion was subscribed 25.33 times, while Non Institutional Investors portion was subscribed 52.84 times. Retail Individual Investors (RIIs) portion was subscribed 3.19 times while Employees portion was subscribed 0.01 times in the IPO.

The price band for the IPO has been fixed at Rs 785 to Rs 850 per share. The IPO by TeamLease Services is a combination of fresh issue of shares aggregating up to Rs 150 crore and offer for sale by a promoter group entity and a total of four investor shareholders.

TeamLease Services has raised Rs. 190.27 crore by selling 22.38 lakh shares to a total of 15 anchor investors ahead of the opening of the company's initial public offer (IPO). The shares were allotted to the anchor investors at Rs 850 per share, the top end of the Rs 785 to Rs 850 per share price band for the IPO.

Among anchor investors, Emerging Markets Growth Fund Inc will be allotted 2.64 lakh shares, DSP Blackrock Equity Fund will be allotted 1.59 lakh shares, Goldman Sachs India Fund will be allotted 1.59 lakh shares, Merrill Lynch Capital Markets Espana S.A. S.V. will be allotted 1.21 lakh shares, Schroder International Selection Fund Indian Opportunities will be allotted 1.17 lakh shares and Nomura Funds Ireland Public Co-Nomura Funds Ireland-India Equity Fund will be allotted 1.14 lakh shares.

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