Two years ago, TeamLease, the country’s leading provider of human resource services, had a stellar debut with the stock listing at Rs.1,023 against its issue price of Rs.850. Today, the stock is trading at Rs.2,347 after hitting a high of Rs.2,536.
Co-founder Mohit Gupta controlled promoter entity, Dhana Management Consultancy LLP is cashing on the current rally. Pre-IPO, he had a 10% stake in the firm, of which he sold 1% during the IPO. Recently, Dhana has sold shares worth Rs.6.4 crore in January and an additional Rs.23.04 crore worth of shares in March. Thus, Gupta closed FY18 by taking home Rs.49.5 crore by paring down Dhana’s stake to 5.58%.
Prior to the current selling,