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23-Apr2019

TeamLease Services gains on completing acquisition of eCentric

TeamLease Services is currently trading at Rs. 2930.05, up by 7.30 points or 0.25% from its previous closing of Rs. 2922.75 on the BSE.

The scrip opened at Rs. 2937.00 and has touched a high and low of Rs. 2946.00 and Rs. 2928.75 respectively. So far 15 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3338.85 on 18-Jun-2018 and a 52 week low of Rs. 2159.25 on 04-Oct-2018.

Last one week high and low of the scrip stood at Rs. 3016.35 and Rs. 2890.00 respectively. The current market cap of the company is Rs. 5009.44 crore.

The promoters holding in the company stood at 40.78%, while Institutions and Non-Institutions held 51.29% and 7.75% respectively.

TeamLease Services through its wholly owned subsidiary TL Digital has completed the acquisition of IT Staffing vertical of eCentric, by way of business transfer/ slump sale arrangement.

As per the Business Transfer Agreement entered into two companies, the first tranche of consideration is payable to eCentric upon meeting the conditions precedent to acquisition. The aforesaid first tranche has been transferred on April 20, 2019 to eCentric, pursuant to which the IT Staffing vertical of eCentric now stands acquired by the company.

TeamLease Services is one of India's leading providers of human resource services with a vision of Putting India to Work. The Employment services include staffing solutions, recruitment services and compliance services.


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