Shares of staffing firm TeamLease Services debuted at the bourses today and touched a high of Rs 1,026, reflecting a sharp gain of nearly 21 per cent over the issue price of Rs 850. The stock, which listed at Rs 860, up 1.17 per cent compared with the issue price on BSE, later surged by 20.7 per cent to touch a high of Rs 1,026. At NSE, shares of the company opened at Rs 860 and was trading at Rs 1,009.60, a gain of 18.77 per cent.
The IPO was in the price band of Rs 785-850 per share. The company had said that proceeds from the IPO will be used for acquisitions and other strategic initiatives, upgradation of the existing IT infrastructure, working capital requirements and other general corporate purposes.