TeamLease: Subsidiary completes acquisition of eCentric

TeamLease Services through its wholly-owned subsidiary TL Digital has completed the acquisition of IT Staffing vertical of eCentric by way of business transfer 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. The company's services include staffing solutions, recruitment services and compliance services.

On Tuesday, the shares of TeamLease Services opened at Rs. 2,937 against Monday’s close of Rs. 2,922.75. At 14:24 hours, the shares were trading at Rs. 2,935.90, up by 0.45 per cent. It reached an intraday high of Rs. 2,964.15 and an intraday low of Rs. 2,928.75 per share on the BSE. The 52-week high stood at Rs. 3,338.85 and 52-week low was at Rs. 2,159.25 per share on the BSE.

Meanwhile, the BSE Sensex was quoting 38,770, up by 0.32 per cent.