TeamLease Services IPO subscribed 66 times

Staffing Services firm TeamLease Services saw a massive rush from investors for its Rs 423 crore which was oversubscribed by 65.89 times. As per the breakdown of the subscription of the IPO, Qualified Institutional Buyers (QIBs) portion was subscribed 26.96 times, while Non Institutional Investors portion was subscribed 185.23 times. Retail Individual Investors (RIIs) portion was subscribed 10.49 times while Employees portion was subscribed 0.51 times in the IPO.

The price band for the company has been fixed at Rs 785 to Rs 850 per share. The IPO from the company 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.

Earlier TeamLease Services 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.