Indus Capital Partners LLC made an announcement through an exchange filing regarding the details of the disposal of equity shares of TeamLease Service limited for and on behalf on behalf of all the aqcuirers and person acting in concert.
The target company is TeamLease Services Limited. The seller, along with persons acting in concert (PAC) with the seller, includes Indus India Fund (Mauritius) Limited, Cambridge University Endowment Fund, and Vitruvius Asian Equity.
Before the sale under consideration, the total number of shares carrying voting rights involved in this disposal stood at 515,415 shares, representing approximately 3.07 percent of the total share/voting capital. This percentage remains consistent concerning the total diluted share/voting capital of TeamLease Services Limited, reinforcing the significance of this equity share transaction.
In the sale, a total of 345,415 shares carrying voting rights were sold, representing approximately 2.06 percent with respect to the total share/voting capital and an equivalent 2.06 percent concerning the total diluted share/voting capital of the target company.
Date of Sale of shares
The sale of shares took place on September 28, 2023. Prior to the current sale, the acquirer, along with individuals acting in concert, had sold certain shares of the target company. However, it's noteworthy that the reporting requirement under section 29(C) of the SEBI SAST Regulations was triggered by the present sale, which constituted 2.06 percent of the shares. This is because the aggregate percentage of shares sold in this transaction exceeded 2 percent of the total shareholding in the target company, as compared to the last disclosure made under Regulation 29(1) of SEBI SAST Regulations, which was reported on May 29, 2018.
The equity share capital or total voting capital of the tarhet company before the sale was Rs 16,76,89,000 divided into 1,67,68,900 equity shares. The equity shares capital after the sale was at Rs 16,76,89,000 divided into 1,67,68,900 equity shares.The diluted share after the sale is Rs 16,76,89,000 divided into 1,67,68,900 equity shares