TeamLease Services Limited (NSEI:TEAMLEASE) announces a share repurchase program. Under the program, the company will repurchase up to 3,27,869 shares, representing 1.92% of its share capital, for INR 1000 million. The shares will be repurchased at a price of at a price of INR 3,050 per share.

The purpose of the repurchase program is to optimize returns to shareholders and enhance overall shareholders' value. The repurchases will be sourced out of the free reserves of the company (retained earnings) and/or such other source as may be permitted by the Buyback Regulations or the Act. The program is subject to the approval of the members of the company by way of a special resolution and all other applicable statutory/ regulatory approvals.

The company has set April 3, 2023, as the record date of the offer. The offer will expire on May 25, 2023. As of January 27, 2023, the company had 17,096,769 shares outstanding.