TeamLease files papers with Sebi for Rs 450-500 crore IPO
02/07/2015 13:16

Staffing firm TeamLease Services has approached capital markets regulator Sebi with plans to raise an estimated Rs 450-500 crore through an Initial Public Offer, reported PTI.

The company has filed a Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India for the public issue of its equity shares.

TeamLease Services Managing Director & C0-Founder Ashok Reddy said, "We are exploring multiple options to facilitate the aggressive growth that we plan for the future," while adding that "nothing specific (was) pinned down yet."

TeamLease Services was established in 2002 with four offices, 20 clients and 40 employees is now India's largest and foremost people supply chain company with 8 regional offices and 1,200 core employees, according to the company's website.

The company started with temporary staffing and then added permanent recruitment in 2004.

It offers the following services - temporary staffing, permanent recruitment, regulatory compliance, payroll processing and learning services.