Gaja Capital, GPE India sell TeamLease shares worth Rs 148-cr

Gaja Capital and GPE India today offloaded 3.28 percent stake in staffing firm TeamLease Services for a little over Rs 148 crore through open market transactions.

Most of the shares were purchased by Franklin Templeton Investment Funds and Kuwait Investment Authority.

According to bulk deal data available with the National Stock Exchange (NSE), Gaja Capital and GPE (India) Ltd together sold a total of 5,61,353 shares, amounting to 3.28 percent stake, of TeamLease.

Individually, Gaja Capital sold 1,06,245 shares on the NSE, while GPE offloaded 4,55,108 shares on the course.

The shares were sold at an average price of about Rs 2,645, valuing the transactions at Rs 148.47 crore.

Meanwhile, Franklin Templeton picked up 4,82,400 stocks of the staffing firms, while Kuwait Investment Authority bought 94,800 stocks of the company.

Earlier in April, Gaja Capital and GPE India had sold nearly 4 percent stake in TeamLease for Rs 151 crore. In November last year, the two entities together sold over 8.1 lakh shares of the staffing firm for about Rs 153 crore.

TeamLease stock today settled at Rs 2,630 on the NSE, down 0.41 percent from the previous close.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)