TeamLease Services makes strong debut; surges 20%

 Markets may be going through tough times but the new kid on the block, TeamLease Services, had a good listing on the bourses. The scrip opened at Rs 860 as against the issue price of Rs 850 per share.

The scrip of TeamLease, a leading provider of human resources, became the first company in calendar year 2016, to cross the four-figure mark after touching a high of Rs 1,032 on the exchanges.

The stock dipped below the issue price by hitting a low of Rs 806.65 before finally ending the day with a gain of Rs 172 (20 per cent) at Rs 1,032 with volumes of 54.98 lakh shares.
The company had opened on February 2, 2016, a public offer of equity shares of face value of Rs 10 each at a price band from Rs 785 to Rs 850 per share comprising a fresh issue of up to Rs 150 crore and an offer for sale of up to 2,75,977 shares.