The stock market has a new entrant today – TeamLease Services. The stock got listed at Rs.860 as against IPO price of Rs.850. It then slipped down to an intra day low at Rs.805 but soon bounced back with vigour. It hit an intra day high at Rs.1032 and it is now at Rs.1003, up 18%.

This IPO did extremely well, getting oversubscribed by a whopping 66 times, raising more than Rs.4000 crore thro’ the IPO. Teamlease Services provides human resource services (employment, employability and education) mainly for sales, logistics and customer service functions to the Indian organized sector.