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AZB assists TeamLease Services in its IPO

AZB and Partners acted as domestic legal counsel to TeamLease Services Limited in connection with its initial public offer. The offering is structured as (a) a fresh issue of 1,764,705 equity shares aggregating to INR 1,500 million and (b) an offer for sale of 275,977 equity shares by Gaja Capital India Fund-I, 76,660 equity shares by Gaja Advisors Private Limited, 1,180,569 equity shares by GPE (India) Ltd. 1,533,206 equity shares by India Advantage Fund S3 I and 153,321 equity shares by HR Offshoring Ventures Pte Ltd.  The Offer also included a reservation of 10,000 equity shares aggregating to ` 8.50 million for subscription by eligible employees of the company.  The net offer constituted 29.10% of the fully diluted post offer paid-up equity share capital of the company.  IDFC Securities Limited, Credit Suisse Securities (India) Private Limited and ICICI Securities Limited are underwriters to the offering.

The AZB team comprised of Partner, Srinath Dasari; and Associates, Reema Dash and Gautam Rego.

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