TeamLease Services to file IPO, aims to raise Rs500 crore

New Delhi: Staffing and training company TeamLease Services Pvt. Ltd is planning to raise ₹ 500 crore in a public sale of shares, chairman Manish Sabharwal said.

“We have not filed papers yet, but will do so soon,” said Manish Sabharwal, chairman of TeamLease Services. He said the company is looking to collect ₹ 500 crore though the initial public offer.

The Economic Times reported on Wednesday that the company has filed documents with the market regulator, without mentioning the source of this information.

Rituparna Chakaraborty, TeamLease Services’s co-founder and senior vice-president, had told earlier Wednesday that the company will “not comment keeping in mind the regulatory requirements.” She suggested the details may be available on the company’s website in a maximum of 10 days.

TeamLease says it has helped companies hire more than 1.5 million employees in the last 13 years. It was established in 2002 and has over 2,500 clients, according to the company’s website.