Tender Offer | ₹100.00 Crores | Listed at BSE, NSE | Fri, May 12, 2023 - Thu, May 25, 2023
TeamLease Services Ltd. Buyback is a tender offer for the repurchase of up to 0.03 crore equity shares at a buyback price of ₹3050 per share with a face value of ₹10 per share, aggregating to ₹100.00 crores.
The record date for determining eligible shareholders is Apr 3, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on May 12, 2023 and closes on May 25, 2023, with the last date for receipt of tender forms being May 25, 2023.
The finalisation of buyback acceptance is expected on Jun 2, 2023, followed by settlement of bids on Jun 5, 2023.
Edelweiss Financial Services Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Nuvama Wealth Management Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the TeamLease Services Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, May 12, 2023
Offer Closing Date
Thu, May 25, 2023
Buyback Price
₹3050 per share
Record Date
April 3, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 6 Fully paid-up Equity Shares held on the Record Date. | 49,181.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 60 Fully paid-up Equity Shares held on the Record Date. | 278,688.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 5,231.57 | 34.98 | |
| 31-Mar-21 | 1,310.79 | 4,916.18 | 78.47 |
| 31-Mar-22 | 1,540.41 | 6,499.55 | 39.45 |
| Amount in ₹ Crore | |||
TeamLease Services is one of India's leading human resource companies offering a range of solutions. The company offers Staffing and Recruiting, payroll process outsourcing, regulatory compliances, assessment, and corporate training services. The company receives 1.5 Lakhs+ Registration Per month.
The company offers job roles such as Accountant, Architect, BPO, Tech Support, Content Writer, SEO/Social media, Engineer (core and non-IT), HR/Admin, Sales Executive, management trainee, Delivery Executive, Chef/Cook, Counsellor among others.
The company has 3,500+ clients and 2.9 lakhs+ traninees/associates.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2023 | 2,570.05 | 2,225.95 | 2,465.23 |
| Jan-2023 | 2,584.00 | 2,172.00 | 2,446.89 |
| Dec-2022 | 2,598.15 | 2,435.00 | 2,514.93 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2023 | 2,594.90 | 2,216.00 | 2,463.17 |
| Jan-2023 | 2,585.00 | 2,172.30 | 2,447.11 |
| Dec-2022 | 2,586.50 | 2,430.00 | 2,515.89 |
The Buyback is being undertaken for the following reasons:
TeamLease Services Ltd.
315 Work Avenue Campus, Ascent Building,
Koramangala Industrial Layout, Jyoti Nivas College
Koramangala, Bangalore-560095
Banga, Punjab, 560095
Lead Manager(s)
Registered Broker
The TeamLease Services Buyback opens on May 12, 2023, and closes on May 25, 2023.
Last date to be eligible to participate in buyback is March 31, 2023.
The TeamLease Services Buyback is a Tender Offer.
TeamLease Services Buyback Schedule
| Buyback Opening Date | May 12, 2023 |
| Buyback Closing Date | May 25, 2023 |
| Last Date for receipt of Tender Forms | May 25, 2023 |
| Finalisation of Buyback Acceptance | June 2, 2023 |
| Last Date for settlment of bids | June 5, 2023 |
| Last Date for Extinguishment of Shares | June 12, 2023 |
The TeamLease Services Buyback is being offered at Rs ₹3050 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 6 Fully paid-up Equity Shares held on the Record Date. | 49,181.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 60 Fully paid-up Equity Shares held on the Record Date. | 278,688.00 |
The issue size of TeamLease Services Buyback is 3,27,869 equity shares at ₹3050 per share aggregating up to ₹100.00 Crores.
The Buyback is being undertaken for the following reasons:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The TeamLease Services Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
