The board of recruitment & human resource services company Teamlease Services on Wednesday approved a share buyback proposal to buy over 14.87 lakh equity shares from its existing shareholders on a proportionate basis via a tender offer route. It set the buyback price at Rs 1,600 per share. The amount will be paid in cash for an aggregate amount up to Rs 238 crores representing 8.87% of the total paid-up capital of the company as of March 31, 2026. The Board also constituted a committee for the proposed buyback.
The decision to buy back the company's shares comes amid continued underperformance in the stock. Teamlease shares have plunged 26% in the past year while slipping 10% year-to-date.
