Indus Capital Partners Reduces Stake in TeamLease Services to 1.01%

Indus Capital Partners LLC, acting as an investment manager for multiple funds, has significantly reduced its stake in TeamLease Services Limited . The transaction, which took place on September 28, 2023, involved the sale of 3,45,415 equity shares, representing 2.06% of the company's total shareholding.

Transaction Details

Aspect	Details
Seller	Indus Capital Partners LLC
Company	TeamLease Services Limited
Shares Sold	3,45,415
Percentage Sold	2.06%
Transaction Date	September 28, 2023
Method	Open market transactions

Shareholding Impact

Period	Shareholding Percentage
Before Sale	3.07%
After Sale	1.01%

The substantial reduction in shareholding has triggered disclosure requirements under SEBI regulations, as the aggregate percentage of shares sold exceeded 2% of total shareholding since their last disclosure in May 2018.

Funds Involved

Indus Capital Partners LLC manages investments for several funds, including:

Indus India Fund (Mauritius) Limited
Cambridge University Endowment Fund
Vitruvius Asian Equity

Company Overview

TeamLease Services Limited has an equity share capital structure as follows:

Aspect	Value
Total Equity Share Capital	Rs. 16,76,89,000
Number of Equity Shares	1,67,68,900

This significant reduction in Indus Capital Partners' stake may attract attention from market analysts and investors, potentially impacting the stock's trading patterns in the short term.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.19%	-2.80%	-5.69%	-11.19%	-39.86%	-23.68%

Teamlease Services Limited, a prominent player in the staffing industry, has made significant strides in its global expansion strategy while also witnessing changes in its promoter shareholding structure.

Singapore Expansion

TeamLease Digital Singapore Pte. Ltd., a step-down subsidiary of TeamLease Services Limited, has incorporated a new wholly-owned subsidiary named TeamLease Digital Solutions Pte. Ltd. in Singapore. The incorporation took place on September 1, with the company receiving confirmation on September 3.

Key details of the new subsidiary:

Name: TeamLease Digital Solutions Pte. Ltd.
Registration Number: 202538664Z
Authorized and Paid-up Capital: S$50,000.00
Industry: Staffing
Registered Office: 18 Boon Lay Way #05-95 Tradehub 21 Singapore 609966

This strategic move is aimed at enhancing TeamLease's global footprint, particularly in the Southeast Asian market. The new entity is expected to strengthen the company's presence in Singapore's staffing industry.

Share Pledge Release

In a separate development, TeamLease Services Limited has reported a significant change in its promoter shareholding structure. Hansini Management Consultant Private Limited, a promoter of the company, has released a pledge on 84,050 equity shares, representing 0.50% of the total share capital.

Details of the pledge release:

Promoter: Hansini Management Consultant Private Limited
Number of Shares Released: 84,050
Percentage of Total Share Capital: 0.50%
Date of Pledge Release: August 12
Previous Pledge Details: The shares were previously pledged to Kotak Mahindra Bank Limited as security for a loan against property worth Rs 22.00 crores.

Following this release, Hansini Management Consultant Private Limited's total shareholding in TeamLease Services Limited stands at 1,31,442 shares, representing 0.78% of the total share capital.

These developments showcase TeamLease Services' commitment to expanding its international presence while also highlighting changes in its domestic shareholding structure. The company continues to position itself strategically in the global staffing industry, with a particular focus on the Asia-Pacific region.