 "TeamLease IPO subscribed 90% ahead of close")
Shares of TeamLease Services surged 13% to Rs 1,153, extending its 21% surge on Friday, the first day of listing the bourses.
The stock zoomed 43% from its intra-day low of Rs 806 touched on National Stock Exchange (NSE) on debut day, i.e. February 12, 2016.
The company had raised Rs 435 crore though initial public offer (IPO) at issue price of Rs 850 per share. The issue was over-subscribed 66 times at a price band of Rs 785-850 per share.
TeamLease Services is one of the India’s leading providers of human resource services in the organized segment delivering a broad range of human resource services to various industries with a vision of putting India to work. The Company had 104,946 Associate Employees as of November 30, 2015, making it one of India's leading people supply chain companies. All of its businesses operate on an asset-light model with low capital expenditure requirements.
At 11:24 AM, the stock was up 9% at Rs 1,115 on the NSE and trading 32% above its issue price of Rs 850 per share. A combined 945,917 shares changed hands on the counter on the NSE and BSE so far.
The stock zoomed 43% from its intra-day low of Rs 806 touched on National Stock Exchange (NSE) on debut day, i.e. February 12, 2016.
The company had raised Rs 435 crore though initial public offer (IPO) at issue price of Rs 850 per share. The issue was over-subscribed 66 times at a price band of Rs 785-850 per share.
TeamLease Services is one of the India’s leading providers of human resource services in the organized segment delivering a broad range of human resource services to various industries with a vision of putting India to work. The Company had 104,946 Associate Employees as of November 30, 2015, making it one of India's leading people supply chain companies. All of its businesses operate on an asset-light model with low capital expenditure requirements.
At 11:24 AM, the stock was up 9% at Rs 1,115 on the NSE and trading 32% above its issue price of Rs 850 per share. A combined 945,917 shares changed hands on the counter on the NSE and BSE so far.
