TeamLease Services

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TeamLease Services Limited
Company typePublic
ISININE985S01024
IndustryRecruitment and Human Resources Services
Founded2000
FounderManish Sabharwal
Ashok Reddy
HeadquartersBengaluru, Karnataka, India
Number of locations
9
Number of employees
282,000
Websitegroup.teamlease.com

TeamLease Services Limited is an Indian recruitment and human resources services company established in 2002 with its headquarters in Bengaluru, Karnataka.[1] It is publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).[2]

TeamLease is involved in various sectors, including training, staffing, and other HR services. It also runs a Vocational University and the National Apprenticeship program. It is a Fortune India 500 company.[3]

History[edit]

In the year 2000, TeamLease was established under the name India Life Chakravarti Actuarial Services Private Limited[2] by its founders, Manish Sabharwal and Ashok Reddy.[4] The company later changed its name to TeamLease Services Private Limited in 2002.[1]

By 2006, TeamLease had a workforce of over 30,000 associates. In 2009, the company secured funding amounting to $500 million.[5] In 2010, TeamLease made an acquisition, taking over IIJT, an IT company based in Navi Mumbai with a network of 120 centers across India.[1] In 2011, the company received investments worth $250 million and became a founding member of the Indian Staffing Federation, an organization for India's Flexi staffing sector.[6][7][8]

TeamLease established a partnership with the Government of Gujarat to set up a private university.[9] This collaboration led to the establishment of TLSU as a university under the Gujarat Private Universities Act in 2013.[9][10] Classes at the university commenced in 2014.[11] TeamLease also initiated a project involving a partnership between the public and private sectors for apprenticeship (NETAP).[12]

In 2015, the company rebranded itself to TeamLease Services Limited and became a public company.[2] It operates from nine regional offices and employs around 2.82 lakh people.[13] TeamLease holds a 6 percent market share in the domestic flexi-staffing industry.[14][1] In 2016, TeamLease raised Rs 190 crore by issuing shares to 15 anchor investors, including Goldman Sachs and Merrill Lynch.[15][1]

Acquisition[edit]

In 2016, TeamLease expanded its business into the IT staffing sector by purchasing ASAP Infosystems[16] and Nichepro Technologies for Rs 67 crore and Rs 29.5 crore respectively.[17] These companies were later integrated into TeamLease's Digital division.

In January 2017, TeamLease completed the purchase of Keystone, acquiring 100 percent of its shares for ₹8.2 crores in cash through TeamLease Staffing, a wholly-owned subsidiary of TeamLease.[18]

During the same year, TeamLease entered the Telecom staffing domain by acquiring Evolve Technologies[19] and also obtained a 40% stake in Schoolguru.[20]

In November 2021, TeamLease increased its ownership stake in Avantis to 61.5% and rebranded it as TeamLease Regtech.[21] The company also rebranded Schoolguru as TL EdTech, Avantis as TL RegTech, and E-Hire as TL HRTech.[20]

Awards and achievements[edit]

References[edit]

  1. ^ a b c d e Sengupta, Hindol (2017-01-09). "The work processors". www.fortuneindia.com. Retrieved 2023-10-12.
  2. ^ a b c "TeamLease flowered in Bengaluru because it's a city of ideas: founders". The Times of India. 2017-06-21. ISSN 0971-8257. Retrieved 2023-10-12.
  3. ^ "Fortune India 500 Ranking | Fortune India". www.fortuneindia.com. Retrieved 2023-10-12.
  4. ^ "How Resisting Takeover Bids Paid Off For TeamLease". Forbes India. Retrieved 2023-10-07.
  5. ^ "TEAMLEASE Company History". Dynamic Levels. Retrieved 2023-10-12.
  6. ^ "IT, e-commerce and logistics drive flexi-staffing in India, says industry federation". Moneycontrol. 2022-03-15. Retrieved 2023-10-12.
  7. ^ "People Matters - Interstitial Site — People Matters". www.peoplematters.in. Retrieved 2023-10-12.
  8. ^ "Temporary hiring jumps over 10% as festive season approaches". Business Today. 2019-09-13. Retrieved 2023-10-12.
  9. ^ a b "TeamLease Skill University, Labour Ministry sign MoU to expand apparenticeships in India". Business Standard. Retrieved 2023-10-12.
  10. ^ "TeamLease Skill Univ, govt partnership to create 5 lakh apprenticeships". BusinessLine. 2015-02-19. Retrieved 2023-10-12.
  11. ^ "Coming Soon: India's first 'skills university'". Rediff. Retrieved 2023-10-12.
  12. ^ "TeamLease Skills University gets provost, to start academic year". The Times of India. 2014-06-07. ISSN 0971-8257. Retrieved 2023-10-12.
  13. ^ Dhanjal, Swaraj Singh (2015-12-14). "Teamlease gets Sebi nod for IPO". mint. Retrieved 2023-10-12.
  14. ^ "TeamLease Services Report" (PDF). HDFC Security. Retrieved 2023-10-12.
  15. ^ "TeamLease Services raises Rs 190 crore by selling shares of 15 anchor investors". The Economic Times. 2016-02-01. ISSN 0013-0389. Retrieved 2023-10-12.
  16. ^ "Staffing and Recruiting Company Teamlease Acquires IT Staffing Startup Asap Info Systems". Inc42 Media. 2016-07-04. Retrieved 2023-10-12.
  17. ^ "TeamLease up 4% on acquisition of Bangalore-based IT staffing co". Moneycontrol. 2016-09-21. Retrieved 2023-10-12.
  18. ^ "Staffing Firm Teamlease Reports 132 Percent Increase In Quarterly Profit". Forbes India. Retrieved 2023-10-12.
  19. ^ Nanda, Prashant K. (2017-10-17). "TeamLease to acquire staffing company Evolve Technologies". mint. Retrieved 2023-10-12.
  20. ^ a b "TeamLease Services Report" (PDF). HDFC Security. Retrieved 2023-10-12.
  21. ^ www.ETHRWorld.com. "TeamLease Services increases its stake in Avantis Regtech to 61.5% and renames company to TeamLease Regtech - ETHRWorld". ETHRWorld.com. Retrieved 2023-10-12.
  22. ^ "TeamLease Services awarded 'Samman Patra'". One India. Retrieved 2023-10-12.
  23. ^ "TeamLease Services Limited" (PDF). BSE India. Retrieved 2023-10-12.
  24. ^ "TeamLease: Putting India to Work (Il) Legally - Case - Faculty & Research - Harvard Business School". www.hbs.edu. Retrieved 2023-10-12.
  25. ^ Mitra, Moinak (2011-06-18). "How case studies from India are being taught at Harvard Business School". The Economic Times. ISSN 0013-0389. Retrieved 2023-10-12.
  26. ^ "TeamLease Services Honored By EPFO For Empowering Women In India". Retrieved 2023-10-12.

External links[edit]

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